MONTREAL, Oct. 19, 2020 /PRNewswire/ - Cogeco Inc.
(TSX: CGO) and Cogeco Communications Inc. (TSX: CCA) (collectively,
the "Corporations") announced today that on Sunday, October 18, 2020, they received a revised
unsolicited, non-binding proposal from Altice USA, Inc. and Rogers Communications Inc. The
revised and non-binding proposal will be submitted to and reviewed
by the Corporations' boards of directors.
The revised non-binding proposal of Altice USA, Inc. and Rogers Communications Inc. has
been reviewed by Gestion Audem Inc., a company controlled by the
members of the Audet family
holding 69% of all voting rights of CGO which in turn controls
82.9% of all voting rights of CCA. Gestion Audem Inc. has already
indicated that it does not intend to sell its shares and will not
support the revised proposal.
The Corporations will not comment any further at this time.
ABOUT COGECO INC.
Cogeco Inc. is a diversified holding corporation which operates
in the communications and media sectors. Its Cogeco Communications
Inc. subsidiary provides residential and business customers with
Internet, video and telephony services through its two-way
broadband fibre networks, operating in Québec and Ontario, Canada, under the Cogeco Connexion
name, and in the United
States under the Atlantic Broadband brand (in 11 states
along the East Coast, from Maine
to Florida). Its Cogeco Media
subsidiary owns and operates 23 radio stations with complementary
radio formats and extensive coverage serving a wide range of
audiences mainly across the province of Québec, as well as Cogeco
News, a news agency. Cogeco's subordinate voting shares are listed
on the Toronto Stock Exchange (TSX: CGO). The subordinate voting
shares of Cogeco Communications Inc. are also listed on the Toronto
Stock Exchange (TSX: CCA).
ABOUT COGECO COMMUNICATIONS INC.
Cogeco Communications Inc. is a communications corporation. It
is the 8th largest cable operator in North America, operating in Canada under the Cogeco Connexion name in
Québec and Ontario, and along the
East Coast of the United States
under the Atlantic Broadband brand (in 11 states from Maine to Florida). The Corporation provides residential
and business customers with Internet, video and telephony services
through its two-way broadband fibre networks. Cogeco Communications
Inc.'s subordinate voting shares are listed on the Toronto Stock
Exchange (TSX: CCA).
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SOURCE Cogeco Inc.