Altice USA Inc. and its Canadian spouse, Rogers Communications Inc., say they have got revised a takeover be offering for the Cogeco firms, which firmly rejected their earlier be offering for the reason that controlling Audet circle of relatives did not wish to promote.
Beneath the brand new be offering, Altice would pay $11.1 billion in money to shop for all of the stocks of Cogeco Communications Inc. and its mum or dad Cogeco Inc., together with $900 million to shop for the Audet circle of relatives’s a couple of vote casting stocks and their subordinate stocks.
That is up from Altice’s earlier be offering of $10.three billion, introduced remaining month.
In each situations, Altice USA plans to stay best Cogeco’s U.S. cable belongings and promote its Canadian belongings to Rogers, which desires to make bigger its cable and web territory in Ontario and make its access into the Quebec marketplace.
The cost Rogers would get for its Cogeco stocks would upward push to $5.2 billion from $4.nine billion.
Altice’s revised be offering comprises $123 according to proportion for all of the last subordinate vote casting stocks of Cogeco Inc. and $150 according to proportion for all of the last subordinate vote casting stocks of Cogeco Communications, that are publicly traded at the Toronto Inventory Trade.