Company: LBRDK
Filing Date: 2025-01-22
Form Type: DEFM14A
Source: 0001140361-25-001609
Chunk: 72

Company: Liberty Broadband Corp
Filing Date: 2025-01-22
Form: DEFM14A
Chunk 72
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 the merger agreement under the HSR Act.

Charter and Liberty Broadband do not expect the completion of the acquisition of Liberty Broadband by Charter to be subject to other notifications or receipts of other regulatory approvals.

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TABLE OF CONTENTS

Timing of the Combination (page 111) Charter and Liberty Broadband are working to complete the combination on June 30, 2027, unless terminated in accordance with the merger agreement or otherwise agreed, and subject to adjustment in connection with certain tax law changes that may be proposed following the date of the merger agreement, in each case, as set forth in the merger agreement. The parties determined that a closing in mid-2027 would be beneficial to the companies and their respective stockholders as it would allow sufficient time for Liberty Broadband to divest the GCI business and to reduce its aggregate debt prior to closing. Additionally, Charter and Liberty Broadband considered that a closing in mid-2027 would ensure an orderly transition of governance and ownership at Charter to the benefit of the public stockholders. For more information regarding the factors considered by Charter and Liberty Broadband in determining the target closing date, see “The Combination—Background of the Combination,” “The Combination—Charter’s Reasons for the Combination; Recommendations of the Charter Special Committee and Charter Board of Directors” and “The Combination—Liberty Broadband’s Reasons for the Combination; Recommendation of the Liberty Broadband Board of Directors.” Charter and Liberty Broadband may decide to complete the combination at an earlier date in certain circumstances, including if the GCI divestiture is completed earlier than anticipated or in connection with certain tax law changes that may be proposed following the date of the merger agreement, as discussed in further detail in “The Merger Agreement—Covenants and Agreements—Tax Matters.” The combination is subject to various conditions, and it is possible that factors outside the control of Charter and Liberty Broadband could result in the combination being completed at a later time, or not at all. As a result of the delayed closing, there may be a substantial amount of time between the respective Charter special meeting and Liberty Broadband special meeting and the completion of the combination. During this time, the market price of Charter Class A common stock may fluctuate and it is therefore impossible to accurately predict the value of common stock consideration that Liberty Broadband stockholders will receive. Additionally, the delayed closing heightens the risk that a proposed tax law change or other change in applicable law may occur during the interim period which