Company: LBRDK
Filing Date: 2025-01-17
Form Type: PRER14A
Source: 0001140361-25-001417
Chunk: 169

Company: Liberty Broadband Corp
Filing Date: 2025-01-17
Form: PRER14A
Chunk 169
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 the unaffiliated shareholders compared to other transaction structures; |

| • | the fact that Liberty Broadband will remain a large stockholder of Charter and retain its designees to the Charter Board during the pendency of the combination, which will provide Charter with stability and allow Charter to focus on executing its long-term business plan, including its investment cycle, for the benefit of its stockholders during this period; |

| • | the fact that the combination allows Charter to avoid potential disruption to Charter if Liberty Broadband were to undergo a change of control or otherwise sell its shares of Charter to a third party instead of to Charter; |

| • | the fact that Charter and Liberty Broadband have agreed to a schedule of share buybacks during the interim period that are expected to be executed in a tax-efficient manner and are designed to facilitate Liberty Broadband repaying all of its outstanding debt (excluding GCI debt) prior to the anticipated closing and result in a more desirable pro forma balance sheet of the combined companies as of the closing; |

| • | how the proposed transaction fits into Charter’s longer-term strategy to conduct share buybacks; |

| • | the ability of Charter to maintain its plan with respect to pro forma leverage; |

| • | the fact that Liberty Broadband will continue to be subject to the existing voting cap under the existing stockholders agreement during the pendency of the combination, and will be required to vote any shares it owns above that threshold in the same proportion as all other votes cast with respect to the applicable matter (other than votes cast by A/N and certain other persons); |

| • | that the merger agreement allows Charter to pursue, consider and respond to alternative transactions that would not, or would not reasonably be expected to, require Charter to abandon or terminate the combination, or that would not, or would not reasonably be expected to, (i) materially impair, hinder, impede or delay or (ii) prohibit or prevent the consummation of the combination; |

| • | that the merger agreement allows Charter, under certain circumstances, after complying with the terms of the merger agreement, prior to approval of the merger agreement by the Charter stockholders, to change its recommendation to the Charter stockholders; and |

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| • | the fact that the combination is intended to qualify as a “reorganization” for U.S. federal income tax purposes and, accordingly, is intended to be completed in a manner that is tax-free to Charter and the Charter stockholders, and the combination is