Altice Raises Bid for Canada’s Cogeco But Gets Rejected Again
- New offer for $8.4 billion is opposed by controlling family
- Altice CEO Goei urges Cogeco board to ‘engage with us’
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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.
“We are not interested in selling our shares,” Louis Audet, president of Gestion Audem Inc., said in a statement. Gestion is a private holding company that has 69% of Cogeco’s voting rights.