United States: Frontier Communications Shareholders Approve Acquisition of Verizon Wireline Operations in 14 States.Byline: Mamta03 Frontier Communications Corporation today announced that its shareholders have overwhelmingly voted to adopt the merger agreement pursuant to which Frontier has agreed to acquire Verizon Communications
Verizon Communications, Inc. Inc. s local exchange businesses in 14 states and certain related customer relationships for long distance services, broadband Internet access Broadband Internet access, often shortened to just "broadband", is high speed Internet access—typically contrasted with dial-up access over modem. Dial-up modems are generally only capable of a maximum bitrate of 56 kbit/s (kilobits per second) and require the full use of a and broadband video. The shareholders also voted to approve an amendment to Frontier s restated certificate of incorporation certificate of incorporation n. some states issue a certificate to prove a corporation's existence upon the filing of Articles of Incorporation. In most states the Articles are sufficient proof. to increase the number of authorized shares Authorized shares Number of shares authorized for issuance by a firm's corporate charter. of Frontier common stock, and to approve the issuance of Frontier common stock pursuant to the merger agreement. This is a resounding re·sound v. re·sound·ed, re·sound·ing, re·sounds v.intr. 1. To be filled with sound; reverberate: The schoolyard resounded with the laughter of children. 2. vote of support from our shareholders, said Maggie Wilderotter, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Frontier. This acquisition will be transformational for Frontier, giving us greater scale, a balance sheet approaching investment grade, and a fantastic platform for growth. Shareholder approval marks an important milestone in the transaction process, and we re on track for closing during the second quarter of 2010. Our entire team is hard at work with their counterparts at Verizon to ensure a successful integration. All of us at Frontier are looking forward to providing great products and services to our new customers and to welcoming our new employees. Closing of the transaction remains subject to customary closing conditions, including receipt of regulatory approvals and completion of financing. Copyright : Euclid Infotech Pvt. Ltd. Provided by Syndigate.info an Albawaba.com company |
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