Cogeco, Audet family reject acquisition bid from Altice USA, Rogers

Nieuws Breedband Verenigde Staten 3 SEP 2020
Cogeco, Audet family reject acquisition bid from Altice USA, Rogers
Canadian operator Cogeco and its controlling shareholders the Audet family have rejected the unsolicited takeover bid put forth by Altice USA and Rogers Communications. The rejection follows board meetings at both companies, in discussion with members of the Audet family.   

Altice USA made its CAD 10.3 billion takeover offer on 2 September. Under the proposed deal, Altice USA would have bought Atlantic Broadband, the ninth-largest cable company in the US, while Rogers would have acquired Cogeco’s Canadian assets.

Categories:

Vast

Companies:

Rogers Communications,  Atlantic Broadband,  Optimum Mobile

Countries:

Canada,  Verenigde Staten

Tags:

Shareholders & subsidiaries, Corporate strategy, M&A buyouts & divestments

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Cogeco rejects sweetened takeover offer from Altice USA, Rogers

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CANADA 8 SEP 2020

Cogeco executive chairman says rejection of Altice USA, Rogers acquisition bid is 'definitive'

Canadian operator Cogeco's controlling shareholder the Audet family has issued what it says is a final rejection of the acquisition offer put forth by Altice USA and Rogers on 2 September. The bid, at CAD 10.3 billion, was rejected the next day on 3 September but the bidding parties issued a statement on 4 September, saying they "stand by" their offer and remain committed to pursuing a deal "engaging with shareholders and the boards in a constructive dialogue." Cogeco executive chairman Louis Audet said in

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Altice USA, Rogers 'stand by' CAD 10.3 bln acquisition bid for Cogeco

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CANADA 2 SEP 2020

Altice USA, Rogers agree CAD 10.3 bln takeover bid for Cogeco

Altice USA has made a bid to acquire Canadian operator Cogeco, valuing the company at CAD 10.3 billion. The deal would give the company Atlantic Broadband, the ninth-largest cable company in the US, while Cogeco's Canadian assets would be sold to Rogers Communications, which is already a large shareholder in the company. 

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