Altice USA gives up on Cogeco | Light Reading

Altice USA confirmed that it has pulled the plug on what’s been a contentious pursuit of Cogeco after the deadline on Altice USA’s sweetened offer for the Canadian operator expired on Wednesday.

Altice USA’s plan was to acquire Cogeco for C$11.1 billion ($8.4 billion), retain Cogeco’s US assets (primarily Atlantic Broadband) and then sell Cogeco’s Canadian assets to Toronto-based Rogers Communications. The Cogeco boards and a family-owned business with 69% of voting rights in Cogeco rejected Altice USA’s and Rogers’s overtures at every turn.

Source: Altice USA gives up on Cogeco | Light Reading