Company: LBRDK
Filing Date: 2025-01-17
Form Type: PRER14A
Source: 0001140361-25-001417
Chunk: 661

Company: Liberty Broadband Corp
Filing Date: 2025-01-17
Form: PRER14A
Chunk 661
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 Broadband or the Merger (including the contemplated benefits thereof), and we have relied, with your consent, upon the assessments of representatives of Charter as to such matters. We have not made or been provided with an independent evaluation or appraisal of the assets or liabilities (contingent or otherwise) of Charter or Liberty Broadband, nor have we made any physical inspection of the properties or assets of Charter or Liberty Broadband. We have not evaluated the solvency or fair value of Charter, Liberty Broadband or any other entity under any state, federal or other laws relating to bankruptcy, insolvency or similar matters. We express no view or opinion as to the potential impact on Charter or Liberty Broadband or any other entity of any actual or potential litigation, claims or governmental, regulatory or other proceedings, enforcement actions, consent or other orders or investigations.

Our opinion addresses only the fairness, from a financial point of view and as of the date hereof, of the Exchange Ratio set forth in the Merger Agreement (to the extent expressly specified herein). Our opinion does not address any other terms, aspects or implications of the Merger, including, without limitation, the form or structure of the Merger or any terms, aspects or implications of any other agreement, arrangement or understanding to be entered into or amended in connection with or contemplated by the Merger or otherwise (including the GCI Divestiture, the amendment to the Second Amended and Restated Stockholders Agreement dated as of May 23, 2015 by and among Charter, Liberty Broadband and Advance/Newhouse Partnership and to the letter agreement dated as of February 23, 2021 by and between Charter and Liberty Broadband, and any voting agreement to be entered into in connection with the Merger). We express no view as to, and our opinion does not address, the underlying business decision of Charter to effect or enter into the Merger, the relative merits of the Merger as compared to any alternative business strategies that might exist for Charter or the effect of any other transaction which Charter might engage in or consider. We also express no view as to, and our opinion does not address, the fairness (financial or otherwise) of the amount or nature or any other aspect of any compensation or other consideration to any officers, directors or employees of any parties to the Merger, or any class of such persons, relative to the Exchange Ratio or otherwise. Our opinion is necessarily based upon information available to us, and financial, stock market and other conditions and circumstances existing, as of