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Rogers Mulls Next Steps as $8.4 Billion Cogeco Offer Expires

  • Audet family repeatedly rejected offers from Altice USA
  • Rogers CEO previously promised review of stake in Cogeco
Rogers is the third-largest cable and wireless firm by market value in Canada.

Rogers is the third-largest cable and wireless firm by market value in Canada.

Photographer: Brent Lewin/Bloomberg

With the expiration of an $8.4 billion play for the Cogeco group, investors are asking what’s next for rival Rogers Communications Inc.

Rogers, Canada’s no. 3 cable and wireless firm by market value, teamed up with Altice USA Inc. to launch a hostile takeover bid for Quebec-based Cogeco Inc. and subsidiary Cogeco Communications Inc. When the controlling Audet family rejected the offer, they upped the price -- but the family stood firm and wouldn’t negotiate. The offer runs out today.