Altice USA: raises offer for Cogeco
(CercleFinance.com) - Altice USA made a sweetened offer for Cogeco, which now values the owner of Atlantic Broadband at 11.
1 billion Canadian dollars.
Altice said the offer now includes a "sizeable premium" over the shares controlled by Louis Audet, Cogeco's executive chairman, and members of the Audet family.
Specifically, the offer includes 900 million Canadian dollars (682 million dollars) for the Audet family.
Last month, the Audet family - who holds 69% of Cogeco's voting rights - unanimously reiterated that they are not interested in selling their shares.
If Altice USA is unable to reach an agreement by 18 November, the offer will be withdrawn, the operator said.
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