Billionaire Drahi’s Bid to Take Altice Private Gets Shareholder Complaint
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Hedge fund Lucerne Capital, an investor in Altice Europe NV, has raised objections to billionaire Patrick Drahi’s plan to take the company private, saying his offer undervalues the company.
Altice’s founder and largest shareholder made an offer Sept. 11 to pay 4.11 euros a share through his Next Private vehicle, valuing the entire company at 4.9 billion euros ($5.8 billion). That represented a 24% premium over the previous day’s closing price.