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.

Frontier Communications (NASDAQ:FYBR) rose 2.6% after a report that its shareholders are set to approve its planned $9.6 billion sale to Verizon (VZ). Frontier (FYBR) secured enough votes to approve the deal by early Wednesday to guarantee its approval,

On Nov. 13, Frontier’s stockholders will decide whether to approve a $20 billion, all-cash acquisition deal which Verizon announced on Sept. 3. Verizon plans to buy Frontier, which brings with it a vast fiber network, for $38.50 per share, around a 45% ...

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

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.

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.