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Liberty Broadband to Acquire GCI Liberty in Stock Transaction
Monday 10 August 2020

Colorado, US-based Liberty Broadband Corp. (NASDAQ: LBRDA) (NASDAQ: LBRDK) has entered into a definitive merger agreement to acquire GCI Liberty, Inc. (NASDAQ: GLIBA) (NASDAQ: GLIBP) in a stock-for-stock transaction, the company said.

Financial terms of the transaction were not disclosed.

Liberty Broadband's businesses consist of its interest in Charter Communications, Inc. and its subsidiary Skyhook.

GCI Liberty's principal assets consist of its subsidiary GCI Holdings, LLC and non-controlling interests in Liberty Broadband, Charter Communications, Inc., and LendingTree, Inc.

Perella Weinberg Partners LP is serving as exclusive financial advisor to the special committee of Liberty Broadband, and Evercore is serving as exclusive financial advisor to the special committee of GCI Liberty.

Debevoise and Plimpton LLP is serving as legal counsel to the special committee of Liberty Broadband, and Morris, Nichols, Arsht and Tunnell LLP is serving as legal counsel to the special committee of GCI Liberty.

Steptoe and Johnson LLP is serving as independent tax counsel to the special committee of GCI Liberty, and Skadden is serving as special tax counsel to GCI Liberty. Baker Botts LLP is representing GCI Liberty in their capacity as regular outside counsel.
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Date Published: 10/08/2020

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