Liberty Broadband Shares Rise on Counterproposal for Charter Merger
Provided by
Dow Jones
By Don Nico Forbes
Shares in Liberty Broadband rose after the company submitted a counterproposal to Charter Communications for a potential business combination.
Shares were up 19.6% in premarket trading at $73.00.
On Monday, the media company said that under the terms of the counterproposal, each Liberty shareholder would receive 0.29 Charter Class A common shares in exchange for each Liberty share.
In addition, Charter would assume or refinance Liberty's debt as well as any outstanding preferred stock, the company said.
Write to Don Nico Forbes at don.forbes@wsj.com
(END) Dow Jones Newswires
September 24, 2024 06:43 ET (10:43 GMT)
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