Bullboard - Stock Discussion Forum FairPoint Communications FRP

Communication Services Telecom Services

"FairPoint is the seventh- largest local telephone firm in the United States, following its acquisition of Verizon's northern New England assets. It operates in 18 states serving 1.4 million access lines, though nearly 90% of these are in Maine, New Hampshire, and Vermont. The firm was founded in 1991 and has its headquarters in Charlotte, N.C."

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NDAQ:FRP - Post Discussion

FairPoint Communications > Shareholders Rights Plan waived!

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Post by thasis on Jun 17, 2008 12:39pm

Shareholders Rights Plan waived!

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Comment by CMYFUN on Jun 17, 2008 1:34pm

Please explain!

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Comment by thasis on Jun 17, 2008 4:07pm

Frontier Pacific’s Shareholder Rights Plan As we have previously advised you, the Frontier Pacific Shareholder Rights Plan was implemented with the view of giving the board of directors and Frontier Pacific shareholders sufficient time to properly consider any takeover bid made for Frontier Pacific and to allow enough time for competing bids and alternative proposals to emerge. The Rights ...more

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Comment by jeffz2 on Jun 17, 2008 5:44pm

So what happens now? Particularly for those of us who did not particpate in Eldorado's offer.a) if they get their 66%+b) if they do NOT get their required amount

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Comment by esselte25 on Jun 17, 2008 6:47pm

Surprisingly, the shareholders rights plan has been waived. Also the trading volume in the last few sessions has been considerable. I'm now of the opinion that the TO has good chances of succeeding! It appears management realized that FRP SP was going to collapse and acted reasonably.It would be interesting to see how market reacts in terms of future SP of ELD.

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FairPoint Communications