Brief: Altice Says Presents Revised And Enhanced Offer To Acquire Cogeco In Order To Own Atlantic Broadband

COGECO

18/10/2020 22:56

Oct 18 (Reuters) - Altice Usa Inc  ATUS.N :
    * ALTICE USA, INC. PRESENTS REVISED AND ENHANCED OFFER TO
ACQUIRE
COGECO IN ORDER TO OWN ATLANTIC BROADBAND
    * ALTICE USA -  PRESENTED REVISED & ENHANCED OFFER TO COGECO
INC &
COGECO COMMUNICATIONS INC. TO ACQUIRE 100% OF ISSUED
&OUTSTANDING SHARES OF COGECO
    * UPON COMPLETION OF OVERALL TRANSACTION, ALTICE USA WOULD
OWN ALL
U.S. ASSETS OF COGECO, AND ROGERS WOULD OWN CANADIAN ASSETS
    * ALTICE USA-REVISED ITS ARRANGEMENT WITH ROGERS
COMMUNICATIONS TO
SELL ALL CANADIAN ASSETS OF COGECO AT AN ADJUSTED NET PRICE OF
C$5.2 BILLION
    * ALTICE USA - AGGREGATE ALL-CASH CONSIDERATION OFFERED FOR
ALL OF
OUTSTANDING SHARES OF CGO AND CCA, INCLUDING THOSE OWNED BY
ROGERS, IS C$11.1 BILLION
    * THIS INCLUDES C$5.1 BILLION (US$3.9 BILLION) TO BE PAID BY
ALTICE USA FOR U.S. ASSETS
    * ALTICE -IF CO UNABLE TO ARRIVE AT AGREEMENT BY NOV 18,
2020 OR,
DOES NOT SEE CLEAR PATH FORWARD TO COMPLETION OF DEAL,  REVISED
OFFER WILL BE WITHDRAWN
    * ALTICE USA'S SHARE REPURCHASE AND NET LEVERAGE TARGETS FOR
2020
REMAIN UNCHANGED FROM THIS TRANSACTION
    * ALTICE USA -OFFER INCLUDES C$123 PER SHARE FOR REMAINING
CGO
SUBORDINATE VOTING SHARES & C$150 PER SHARE FOR REMAINING CCA
SUBORDINATE VOTING SHARES

Source text for Eikon:  ID:nBw6chRF8a 
Further company coverage:  ATUS.N 

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