According to Reuters on October 15th, some major shareholders of Frontier Communications, a fixed-line operator in the USA, have expressed doubts about Verizon's proposed acquisition. Glendon Capital Management, the second largest shareholder of Frontier holding nearly 10% of the shares, stated that they will vote against this $9.6 billion deal, considering the offer of $38.5 per share as too low. Including the acquired debt, the total value of the deal will reach around $20 billion. Glendon plans to cast a dissenting vote during the shareholder vote on November 13th, requiring the support of the majority of outstanding shares for the deal to proceed. In addition, Cerberus Capital Management, holding 7.3% of Frontier's shares, believes that the acquisition price significantly undervalues the company but has not disclosed its voting intentions yet. The acquisition, announced last month, offered a 44% premium to Frontier's 90-day volume-weighted average stock price. As of Monday's close, Frontier's stock price was $35.25, more than $3 below the proposed deal price.