Investors are set to approve the $9.6 billion deal that some shareholders had opposed as too low.

Update 10:23am: Adds Frontier confirmation. Frontier Communications (NASDAQ:FYBR) rose 2% after its shareholders approved its planned $9.6 billion sale to Verizon (VZ). Verizon rose 1.3%. Approximately 63% of stockholders voted for the deal, with ten of ...

DALLAS--Frontier Communications Parent, Inc. (NASDAQ: FYBR) ("Frontier" or the "Company") today announced that its stockholders approved the acquisition by Verizon Communications Inc. (NYSE, NASDAQ: VZ) ("Verizon") at its special meeting held on November 13,

Frontier Communications announced  its shareholders gave a stamp of approval for Verizon's proposed $20 billion deal to buy the company.

Shareholders of pure-play fiber internet provider Frontier Communications Parent, Inc. ($FYBR) on Wednesday have approved the acquisition of the company by Verizon Communications Inc. ($VZ) at a special meeting.

The deal has been approved despite a lot of noise from several Frontier investors in recent weeks that Verizon's bid undervalues the company. Several Frontier shareholders have expressed their opposition to the deal, including Glendon Capital Management, Cooper Investors Pty Limited, and Cerberus.

The Frontier investors have told Verizon and the Frontier board that the valuation metrics in the Ziply deal imply a far higher purchase price for Frontier, citing the long-term growth prospects for fibre broadband service.

Frontier Communications shareholders have approved a $9.6 billion sale to Verizon, the company said on Wednesday, even as a number of large investors sought to get a higher price. Shareholders had until Wednesday to cast their votes on a deal that Verizon's CEO Hans Vestberg called a "strategic fit" that would allow the company to be more competitive in additional markets.