Core Insights - Liberty Broadband shares surged after making a counteroffer to Charter Communications' merger proposal, offering 0.29 Charter shares for each Liberty share, compared to Charter's initial offer of 0.228 shares [1] - Liberty Broadband holds a 26% stake in Charter, which provides internet, cable television, and mobile phone services under the Spectrum brand [1] - The counteroffer includes Charter assuming or refinancing Liberty's debt and outstanding preferred stock, with a proposed closing date of June 30, 2027, or earlier [1] - Liberty's CEO stated that the counteroffer would benefit both companies by rationalizing their corporate structure and enhancing trading liquidity [1] - Following the news, Liberty Broadband shares increased nearly 25% to $76.01, although they have lost over 5% in 2024 so far; Charter shares fell 1.7% to $326, down more than 16% year-to-date [1]
Liberty Broadband Stock Soars on Counterproposal to Charter Communications' Merger Offer