Under the new offer, Altice said it would pay $11.1 billion cash to buy all the shares of Cogeco Communications Inc. and its parent Cogeco Inc., including $900 million to buy the Audet family’s multiple voting shares and their subordinate shares. “Since this is apparently not registering with Rogers and Altice, we repeat today that this is not a negotiating strategy, but a definitive refusal.”.

Photographer: Christinne Muschi/Bloomberg. Altice USA Inc. raised its bid for Cogeco Inc. and Cogeco Communications Inc. to $8.4 billion, but the offer was quickly turned down by the Canadian cable firm’s controlling shareholder.

In both scenarios, Altice USA plans to keep only Cogeco’s U.S. cable assets and sell its Canadian assets to Rogers, which wants to expand its cable and internet territory in Ontario and make its entry into the Quebec market.

Cogeco staying the course despite costly promises by Rogers to invest in Quebec.

Gestion Audem holds 69% of the voting rights at public holding company Cogeco Inc., while Rogers has control over 13% of the votes. Similarly, Cogeco's 40Mbps unlimited (which didn't even exist when I dropped internet) is $99/mo. This report by The Canadian Press was first published Oct. 18, 2020. Here’s what’s going on, Ottawa approves $2.3B expansion of natural gas transportation system in Alberta, Air Transat lays off more than 50 per cent of remaining flight attendants as pandemic continues, No tsunami threat to B.C.

‘This is not a negotiating strategy, but a definitive refusal,’ Cogeco’s Audet family says. © 2019 TodayHeadline.co - All rights reserved!

“She offered $500 or 50,000 MR (Membership Rewards Points) without any spend requirements. Altice’s revised offer included $123 per share for all the remaining subordinate voting shares of Cogeco Inc. and $150 per share for all the remaining subordinate voting shares of Cogeco Communications, which are publicly traded on the Toronto Stock Exchange.

DO YOU LIKE TO RECEIVE TRENDY NEWS AND UPDATE AROUND THE WORLD? The COGECO website is seen in Montreal on Wednesday, September 2, 2020.

Gestion is a private holding company that has 69% of Cogeco’s voting rights. Bonus Points With Required Spending. Great article. TORONTO – The family that controls the Cogeco companies roundly rejected another takeover offer from Altice USA and Rogers Communications on Sunday night. Under the new offer, Altice said it would pay $11.1 billion cash to buy all the shares of Cogeco Communications Inc. and its parent Cogeco Inc., including $900 million to buy the Audet family’s multiple voting shares and their subordinate shares. Took the $500.” – kmcm25 , 2020 The family that controls the Cogeco companies has rejected a second takeover offer from Altice USA Inc. and its Canadian partner, Rogers Communications Inc. It’s the second offer the Audet family has rejected in as many months, saying in a statement Sunday night that “this is not a negotiating strategy, but a definitive refusal.”. Shares of Cogeco Inc. have climbed 7.4% since the deal was announced, while Cogeco Communications has gained 4.2%.

Cogeco Inc. and Cogeco Communications Inc. are facing a $10.3-billion offer that would see its U.S. business scooped up by a New York cable company and its Canadian assets head to long-time shareholder Rogers Communications Inc. Brian Wilson denounces Beach Boys performance at Trump fundraiser: ‘We didn’t even know about it’, Mobs are attacking Indigenous fisheries in Nova Scotia. The price Rogers would get for its Cogeco shares would rise to $5.2 billion from $4.9 billion. Gestion Audem holds 69 per cent of all voting rights of Cogeco Inc., which in turn controls 82.9 per cent of all voting rights of Cogeco Communications Inc. After their first offer was rejected, Altice and Rogers accused the Audet family of failing to properly review or consider the proposal. Altice first announced an unsolicited offer worth about $7.8 billion on Sept. 2. Dexter Goei, chief executive officer of Altice, said the offer incorporated feedback from discussions with some shareholders. The Platinum regularly has retention offers, but each cardholder will have a different retention offer. Want to discuss? Read more: Rogers’ pledge to keep Cogeco’s Quebec presence is likely aimed at heading off objections from the nationalist provincial government. Goei asked the boards to consider the bid and “engage with us to discuss our proposal.”.

“We are not interested in selling our shares,” Louis Audet, president of Gestion Audem Inc., said in a statement. ... September 10, 2020 at 3:06 pm . “We will not engage in a futile exercise aimed at diverting the attention of management and key resources from our business operations while creating friction among our stakeholders,” he wrote.

New offer for $8.4 billion is opposed by controlling family, Altice CEO Goei urges Cogeco board to ‘engage with us’. Before you renew or cancel, call your bank and see if bonus points or discounts are available.



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