Altice USA jumps on $8 bln deal to buy Canada's Cogeco

COGECO

02/09/2020 15:36

** Shares of cable operator  ATUS.N  rise 4.5% to $28.8 in
morning trade
    ** Altice USA Inc offers to buy Cogeco Inc  CGO.TO  in a
C$10.3 billion ($7.88 billion) all-cash deal with an aim to snap
up the U.S. assets of the Canadian cable company  urn:newsml:reuters.com:*:nL4N2FZ343
    ** Deal value includes C$4.8 billion ($3.67 billion) for
Cogeco's U.S. assets 
    ** Company also agrees to sell Canadian assets of Cogeco to
the latter's largest shareholder, Rogers Communications
 RCIb.TO , while retaining the U.S. assets if deal goes through 
    ** Cogeco up 25%, Rogers Communications up 7.2% 
    ** Altice shares have risen 5.6% this year 

 (Reporting by Sanjana Shivdas in Bengaluru)
 ((SanjanaSitara.Shivdas@thomsonreuters.com; within U.S. +1 646
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@SanjanaShivdas;))