other_materialconfidence high
GCI Liberty ends larger LLA deal; Malone to repurchase 6% LLA stake at $8.63/sh ($107M)
GCI Liberty, Inc.
- Chairman John Malone terminated discussions for a larger strategic transaction with Liberty Latin America (LLA) due to obstacles.
- Malone offered to buy GCI Liberty's 6% equity interest in LLA at $8.63/share, the same price paid last month, for $107M total.
- Board accepted the offer; Malone states vision to split GCI Liberty into two business units under one umbrella.
- Stockholders at May 11 annual meeting approved all proposals: director elections, KPMG ratification, say-on-pay every 3 years, and jury trial waiver.
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