Company: LBRDK
Filing Date: 2025-01-22
Form Type: DEFM14A
Source: 0001140361-25-001609
Chunk: 269

Company: Liberty Broadband Corp
Filing Date: 2025-01-22
Form: DEFM14A
Chunk 269
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 opinions, in either case, that Skadden or Wachtell Lipton, as applicable, indicates would (i) prevent Skadden or Wachtell Lipton from delivering its tax opinion or (ii) cause prong (iv) of the intended tax treatment to fail to be satisfied and Liberty Broadband to recognize any income or gain on loans from Charter as a result of the combination, then, at the election of Liberty Broadband or Charter, Charter, Liberty Broadband, Merger LLC and Merger Sub shall use reasonable best efforts to implement alternative transactions, if any, whereby, (A) following such alternative transactions, the GCI business is no longer owned by Liberty Broadband, Charter or any of their subsidiaries (other than GCI and its subsidiaries), (B) as part of the alternative transactions, either Charter or an affiliate of Charter, directly or indirectly, owns the shares of Charter owned by Liberty Broadband, or such shares are no longer issued and outstanding, (C) pursuant to such alternative transactions, each holder of shares of Liberty Broadband capital stock is entitled to receive the same consideration, which such holder would have received pursuant to the merger agreement, as well as consideration contemplated to be paid to a holder pursuant to a GCI divestiture, (D) pursuant to such alternative transactions, each holder of Liberty Broadband equity awards is entitled to receive the same consideration such holder would have been entitled to receive pursuant to the merger agreement (as well as any adjustments for a GCI divestiture), (E) Skadden and Wachtell Lipton each are able to provide an opinion that neither Liberty Broadband nor holders of shares of Liberty Broadband common stock “will” recognize gain or loss for U.S. federal income tax purposes as a result of the completion of such alternative transactions (except any income, gain or loss of Liberty Broadband or its shareholders with respect to the GCI divestiture (including the receipt of any stock of GCI spinco), upon the receipt of cash in lieu of fractional shares of Charter Class A common stock, or payment of cash to holders of dissenting shares), and (F) such alternative transactions will not cause Liberty Broadband to recognize taxable income or gain on (1) share repurchases pursuant to the stockholders and letter agreement amendment by reason of the transfers of such proceeds to Liberty Broadband’s creditors in pursuance of the plan of reorganization or (2) loans from Charter as a result of the combination (such alternative transactions, collectively