On the morning of September 2, 2020, Altice USA, Inc. announced that it had presented an offer to Cogeco Inc. (“CGO”) and Cogeco Communications Inc. (“CCA”, together with CGO, “Cogeco”) to acquire 100% of the issued and outstanding shares of Cogeco. Altice USA announced that it had also entered into an arrangement to sell all the Canadian assets of Cogeco to Rogers Communications Inc. , Cogeco’s largest long-term shareholder with a significant presence in Quebec, if its transaction with Cogeco is completed. Upon completion of the overall transaction, Altice USA would own all the U.S. assets of Cogeco, namely Atlantic Broadband.
On the evening of September 2, 2020, the Cogeco boards of directors announced that they rejected the proposal.
Altice USA and Rogers provide the following comment:
“We strongly believe that we presented a very attractive offer – one that would reward all Cogeco shareholders with a significant premium – and we stand by that offer. We remain committed to pursuing this transaction and are open to engaging with shareholders and the boards in a constructive dialogue.”
Contacts:
Altice USA Investor Relations Contacts
Nick Brown: 917 589 9983 / nick.brown@alticeusa.com
Cathy Yao: 347 668 8001 / cathy.yao@alticeusa.com
Altice USA Communications Contact
Lisa Anselmo: 516 279 9461 / lisa.anselmo@alticeusa.com
Rogers Investment Community Contact
Paul Carpino: 647 435 6470 / paul.carpino@rci.rogers.com
Rogers Media Contact
Sarah Schmidt: 647 643 6397 / sarah.schmidt@rci.rogers.com
About Altice USA:
Altice USA is one of the largest broadband communications and video services providers in the United States, delivering broadband, video, mobile, proprietary content and advertising services to more than 4.9 million residential and business customers across 21 states through its Optimum and Suddenlink brands. The company operates a4, an advanced advertising and data business, which provides audience-based, multiscreen advertising solutions to local, regional and national businesses and advertising clients. Altice USA also offers hyper-local, national, international and business news through its News 12, Cheddar and i24NEWS networks.
About Rogers:
Rogers is a leading diversified Canadian communications and media company. We are Canada’s largest provider of wireless voice and data communications services and one of Canada’s leading providers of cable television, high-speed Internet and telephony services to consumers and businesses. Through Rogers Sports & Media, we are engaged in radio and television broadcasting, sports, televised and online shopping, and digital media.