Cogeco (TSX:CGO) Rejects Altice USA’s Revised C$11.1 Bn Takeover bid

 

  • The Audet family, Cogeco’s top investor, unanimously rejected Altice USA’s revised offer of C$11.1 billion to acquire the company, slightly up from the earlier C$10.3 billion bid.
  • The revised offer includes C$900 million ownership interests to the Audet family, up from the C$800 million offered previously.
  • Altice also sent a revised bid to Rogers Communications, Cogeco’s second largest shareholder, to sell its Cogeco Canadian assets for C$5.2 billion.
  • Altice USA said it will pull its revised offer to Cogeco if a deal is not reached by November 18.

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