05:23 PM EDT, 09/23/2024 (MT Newswires) -- Liberty Broadband ( LBRDA ) shares rose 22% in recent after-hours trading after the company submitted a counterproposal to the special committee of Charter Communications' ( CHTR ) board, seeking an exchange of 0.29 class A common share of Charter for each Liberty share in a merger.

The proposal includes provisions for Charter to assume or refinance Liberty's debt and outstanding preferred shares at or before the closing.

The offer has a closing date of June 30, 2027, or an earlier mutually agreed date, Liberty said Monday in a statement.

The counterproposal was in response to an initial merger proposal sent by the Charter special committee.

Charter shares fell 0.2% in recent after-hours trading.

Price: 72.95, Change: +13.08, Percent Change: +21.83