NEW YORK,
Feb. 5,
2024 /PRNewswire/ -- JANA Partners ("JANA"), a
shareholder of Frontier Communications Parent, Inc. (NASDAQ: FYBR)
("Frontier" or the "Company"), today issued the following statement
regarding Frontier's announcement that its Board of Directors and
management team are executing a formal and comprehensive review
process of all opportunities to unlock shareholder value.
"We are enthusiastic about Frontier's continued
business momentum and potential for shareholders. We support the
Company's focus and review of all opportunities to unlock
shareholder value – and are confident in the Board and management
team's ability to do so."
About JANA Partners
JANA Partners was founded in 2001 by Barry Rosenstein. JANA invests in undervalued
public companies and engages with management teams and boards to
unlock value for shareholders.
Disclaimer
This press release and the opinions herein are
for general information only, and are not intended to be, nor
should they be construed as, an offer to sell or a solicitation of
an offer to buy any security, a recommendation to purchase or sell
any security, or legal, financial, tax, investment, or other
advice. Funds managed by JANA currently beneficially own shares of
the Company. These funds are in the business of trading (i.e.,
buying and selling) securities and intend to continue trading in
the securities of the Company. You should assume such funds may
from time to time sell all or a portion of their holdings of the
Company in open market transactions or otherwise, buy additional
shares (in open market or privately negotiated transactions or
otherwise), or trade in options, puts, calls, swaps or other
derivative instruments relating to such shares, subject to
applicable law. Consequently, JANA's beneficial ownership of shares
of, and/or economic interest in, the Company may vary over time
depending on various factors, with or without regard to JANA's
views of the Company's business, prospects, or valuation (including
the market price of the Company's shares), including without
limitation, other investment opportunities available to JANA,
concentration of positions in the portfolios managed by JANA,
conditions in the securities markets and general economic and
industry conditions. JANA reserves the right to change any of its
opinions expressed herein at any time as it deems appropriate and
disclaims any obligation to notify the market or any other party of
any such change, except as required by law.
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SOURCE JANA Partners