• Corporate Event: Verizon Communications Inc. (VZ)- Effective Friday, June 2, 2010

      • To
      • Clearing Member Firms
      • From
      • CME Clearing
      • #
      • 10-281
      • Notice Date
      • 01 July 2010
      • Effective Date
      • 02 July 2010
    • Verizon Communications Inc. (VZ) has announced that it will spin off shares of its subsidiary,

      New Communications Holdings Inc. (SPINCO), which will simultaneously merge into Frontier

      Communications Corporation (FTR). VZ Common Shareholders will be entitled to receive the

      Frontier Communications Corporation (FTR) merger consideration Common Shares. The distribution

      ratio is approximately .238 FTR Common Shares per VZ Common Share. The record date is

      June 7, 2010; the mail date is July 7, 2010. The New York Stock Exchange (NYSE) has set

      July 2, 2010 as the exdistribution of the distribution. The NYSE has determined due-bills for

      the FTR distribution must accompany each VZ Share delivered after June 7, 2010 in settlement

      of VZ transactions made prior to the ex-date. Frontier Communications Corporation Common

      Shares are currently trading when issued on the NYSE under the symbol FTR WI.


      This action will be coordinated with the Options Clearing Corporation.

      For the full text of this advisory, please click here.