M&A
confidence high
sentiment neutral
materiality 0.80
Charter to acquire Liberty Broadband in stock deal; 0.236 Charter shares per LBRD share
CHARTER COMMUNICATIONS, INC. /MO/
- Each Liberty Broadband common share converts into 0.236 Charter shares; preferred stock converts into Charter preferred with $180M redemption value.
- Post-close, Liberty Broadband common holders will own ~23% of Charter common; total voting power ~24.2%.
- Closing conditions include approvals by both sets of stockholders (including majority of unaffiliated) and HSR clearance.
- Termination fee of $460M payable by either party under specified circumstances; outside date August 31, 2027.
- Liberty Broadband must spin-off GCI before closing; Charter bears tax liabilities above $420M under tax receivable agreement.