Charter Communications up after co to buy Liberty Broadband in all-stock deal
13/11/2024 15:47
** Shares of Charter Communications CHTR.O rise 2.1% to
$400.34 while Liberty Broadband LBRDA.O shares fall 7% to
$90.40
** The cable operator agrees to buy LBRDA in a all-stock
deal
** According to terms of the transaction, CHTR valued LBRDA
at $13.22 billion - as per Reuters calculations
** Charter plans to retire around 45.6 mln of its shares
owned by Liberty Broadband, and issue about 34 mln shares to
LBRDA's common stockholders, ultimately reducing Charter's
outstanding shares by approx. 11.5 mln.
** CHTR stock up 3% and LBRDA stock rises ~12% YTD
(Reporting by Priyanka.G in Bengaluru)
((priyanka.g@thomsonreuters.com;))