Zayo responds to Starboard call for sale

|About: Zayo Group Holdings, Inc. (ZAYO)|By:, SA News Editor

Zayo Group (NYSE:ZAYO) has responded to a letter from Starboard Value calling on the company to consider a sale.

Starboard suggested a sale may be in shareholders' best interest if the process was objective and excluded potential conflicts of interest such as possible roles for management or directors.

Zayo welcomes input and says it's in "active dialogue with many of our top investors" to understand their views.

The company notes that yesterday it postponed its analyst day set for March 14 in order to evaluate strategic alternatives, and that the board has "nine highly qualified directors, eight of whom are independent, and all of whom have been actively engaged in this effort."

We are objectively evaluating all options that will [enhance shareholder value], while at the same time remaining focused on our mission to provide communications infrastructure to the world’s most impactful companies.

ZAYO gave up early-day gains to settle up 0.1% at the close.

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