Company: LBRDK
Filing Date: 2025-01-10
Form Type: PRER14A
Source: 0001140361-25-000778
Chunk: 266

Company: Liberty Broadband Corp
Filing Date: 2025-01-10
Form: PRER14A
Chunk 266
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 thereof, including the Charter special committee, may, subject to compliance with its obligations described below, make a parent adverse recommendation change solely in response to a parent intervening event or a superior parent proposal that did not result from a breach of Charter’s non-solicitation obligations under the merger agreement, if:

| • | in the case of a superior parent proposal, such proposal has been made and not withdrawn and continues to be a superior parent proposal; and |

| • | Charter has first (1) provided to Liberty Broadband five business days’ prior written notice stating expressly (A) that a parent intervening event has occurred or that it has received a superior parent proposal, as applicable, (B) (x) in the case of a parent intervening event, describing the material facts underlying such event in reasonable detail, or (y) in the case of a superior parent proposal, describing the material terms and conditions of such proposal (including the form and per share value of the consideration offered and the identity of the person or group making such proposal) and including unredacted copies of the relevant transaction agreements and other material documents (provided that any amendment to the financial or other material terms of such proposal, including to the proposed purchase price, will require a new four-business day notice period) and (C) stating that in response to such parent intervening event or superior parent proposal, Charter intends to make a parent adverse recommendation change, and (2) to the extent requested by Liberty Broadband, engaged in good faith negotiations with Liberty Broadband and its representatives during the relevant notice period(s) and considered in good faith any bona fide offer by Liberty Broadband, if any, and has nevertheless determined to make such parent adverse recommendation change in accordance with the requirements described above. |

Notwithstanding any change in the Charter special committee’s recommendation, the merger agreement is required to be submitted to the Charter stockholders at the Charter stockholders’ meeting for the purposes of adopting the merger agreement and approving the related share issuance. Tax Matters Liberty Broadband, Charter, Merger LLC and Merger Sub intend that, for U.S. federal income tax purposes, (i) the combination shall qualify as a “reorganization” within the meaning of Section 368(a) of the Code, (ii) no gain or loss shall be recognized by holders of shares of Liberty Broadband common stock pursuant to the combination (other than with respect to the receipt of stock of GCI spinco, cash received in lieu of fractional shares of stock of GCI spinco, cash received