Cogeco

Cogeco Communications Announces the Acquisition of DERYtelecom

Wednesday, October 21, 2020 - 1:45pm

This new beginning bodes well for the future of DERYtelecom, its clients and employees," stated Bryan Godbout, President and General Manager of DERYtelecom.

Key Points: 
  • This new beginning bodes well for the future of DERYtelecom, its clients and employees," stated Bryan Godbout, President and General Manager of DERYtelecom.
  • "We are excited at the prospect of adding the DERYtelecom customers, employees and networks into the Cogeco Connexion fold," said Frdric Perron, President of Cogeco Connexion.
  • The estimated revenue and adjusted EBITDA were adjusted by Cogeco Communications to reflect IFRS to the best of its knowledge.
  • Cogeco Communications' estimation of the fiscal 2020 adjusted EBITDA of the business being acquired is based on financial information that was provided by the current management of DERYtelecom.

Cogeco and Cogeco Communications boards of directors reject revised Unsolicited Non-Binding Proposal From Altice and Rogers

Tuesday, October 20, 2020 - 6:06pm

MONTREAL, Oct. 20, 2020 /PRNewswire/ -Cogeco Inc. (TSX: CGO) and Cogeco Communications Inc. (TSX: CCA) (collectively, the "Corporations") today announced that their boards of directors have unanimously rejected the revised unsolicited, non-binding proposal from Altice USA, Inc. of New York and Rogers Communications Inc. of Torontoannounced on October 18, 2020.

Key Points: 
  • MONTREAL, Oct. 20, 2020 /PRNewswire/ -Cogeco Inc. (TSX: CGO) and Cogeco Communications Inc. (TSX: CCA) (collectively, the "Corporations") today announced that their boards of directors have unanimously rejected the revised unsolicited, non-binding proposal from Altice USA, Inc. of New York and Rogers Communications Inc. of Torontoannounced on October 18, 2020.
  • Following separate deliberations of the independent board members supported by independent legal counsel, taking into account the stated position of the Audet family, the boards rejected the revised unsolicited, non-binding proposal and will not engage with Altice and Rogers.
  • The subordinate voting shares of Cogeco Communications Inc. are also listed on the Toronto Stock Exchange (TSX: CCA).
  • Cogeco Communications Inc.'s subordinate voting shares are listed on the Toronto Stock Exchange (TSX: CCA).

Atlantic Broadband Is the First Internet Provider to Connect Customers Under the State’s “Everybody Learns” Initiative

Monday, October 19, 2020 - 7:00pm

Atlantic Broadband , the nations eighth-largest cable operator, today announced it was the first internet provider in Connecticut to deliver broadband internet to households with school-aged children to support remote learning under the States Everybody Learns initiative.

Key Points: 
  • Atlantic Broadband , the nations eighth-largest cable operator, today announced it was the first internet provider in Connecticut to deliver broadband internet to households with school-aged children to support remote learning under the States Everybody Learns initiative.
  • In July, Governor Ned Lamont launched the Everybody Learns initiative to close the digital divide in Connecticut and empower students to learn from home.
  • Distance learning requires reliable, high-performance broadband internet, said Nadine Heinen, Northeast Region Director for Atlantic Broadband.
  • Atlantic Broadband, a subsidiary of Cogeco Communications Inc. (TSX: CCA), is the eighth- largest cable operator in the United States, based on the number of television service customers served.

Cogeco and Cogeco Communications Announce Receipt of Revised Unsolicited Non-Binding Proposal From Altice and Rogers

Monday, October 19, 2020 - 3:00pm

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.

Key Points: 
  • 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.
  • Gestion Audem Inc. has already indicated that it does not intend to sell its shares and will not support the revised proposal.
  • Cogeco Communications Inc.'s subordinate voting shares are listed on the Toronto Stock Exchange (TSX: CCA).

Gestion Audem Rejects Second Unsolicited Proposal From Rogers and Altice

Monday, October 19, 2020 - 1:28am

MONTRAL, Oct. 18, 2020 /PRNewswire/ -Gestion Audem, the Audet family holding company, has been made aware of the second hostile proposal from Rogers Communications Inc. and Altice USA, Inc. to purchase all the shares of Cogeco Inc. (TSX: CGO) and Cogeco Communications Inc. (TSX: CCA) (collectively, the "Corporations").

Key Points: 
  • MONTRAL, Oct. 18, 2020 /PRNewswire/ -Gestion Audem, the Audet family holding company, has been made aware of the second hostile proposal from Rogers Communications Inc. and Altice USA, Inc. to purchase all the shares of Cogeco Inc. (TSX: CGO) and Cogeco Communications Inc. (TSX: CCA) (collectively, the "Corporations").
  • "As we did on September 2nd, 2020, following the announcement of their first unsolicited proposal, members of the Audet family unanimously reject this further proposal.
  • Since this is apparently not registering with Rogers and Altice, we repeat today that this is not a negotiating strategy, but a definitive refusal.
  • The Audet family regrets that Rogers' capital allocation decision is causing the Rogers family and Board such anguish," said Louis Audet, President of Gestion Audem.

Altice USA, Inc. Presents Revised and Enhanced Offer to Acquire Cogeco in Order to own Atlantic Broadband

Sunday, October 18, 2020 - 10:45pm

Upon completion of the overall transaction, Altice USA would own all the U.S. assets (Atlantic Broadband) of Cogeco, and Rogers would own the Canadian assets.

Key Points: 
  • Upon completion of the overall transaction, Altice USA would own all the U.S. assets (Atlantic Broadband) of Cogeco, and Rogers would own the Canadian assets.
  • This revised offer is in line with Altice USAs previously stated objective to opportunistically grow through value-accretive acquisitions.
  • As part of Altice USA, Atlantic Broadband would benefit from enhanced scale, operating efficiencies and further investment support that are at the core of the Altice business model and strategy.
  • The transaction proposed by Altice USA would be subject to court approval, as well as Cogeco boards and shareholder approval.

Altice USA, Inc. Presents Revised and Enhanced Offer to Acquire Cogeco in Order to Own Atlantic Broadband

Sunday, October 18, 2020 - 10:45pm

Altice USA, Inc. (Altice USA) (NYSE: ATUS) announces that it has presented a revised and enhanced offer to Cogeco Inc. (CGO) and Cogeco Communications Inc. (CCA, together with CGO, Cogeco) to acquire 100% of the issued and outstanding shares of Cogeco.

Key Points: 
  • Altice USA, Inc. (Altice USA) (NYSE: ATUS) announces that it has presented a revised and enhanced offer to Cogeco Inc. (CGO) and Cogeco Communications Inc. (CCA, together with CGO, Cogeco) to acquire 100% of the issued and outstanding shares of Cogeco.
  • Upon completion of the overall transaction, Altice USA would own all the U.S. assets (Atlantic Broadband) of Cogeco, and Rogers would own the Canadian assets.
  • This revised offer is in line with Altice USAs previously stated objective to opportunistically grow through value-accretive acquisitions.
  • Altice USA also offers hyper-local, national, international and business news through its News 12, Cheddar
    1 Including an offer for CDPQs 21% stake in Cogecos Atlantic Broadband subsidiary.

Rogers announces comprehensive $3 billion investment proposal to benefit Quebec

Friday, September 25, 2020 - 1:00pm

Rogers is deeply committed to the future of innovation and the knowledge economy in Quebec.

Key Points: 
  • Rogers is deeply committed to the future of innovation and the knowledge economy in Quebec.
  • Building off its base of 3,000 Quebec employees and nearly two million Quebec customers, Rogers new plans would include:
    Growing jobs and powering economic growth:
    Investing a total of $3 billion in Quebec over the next five years, which includes $1.5 billion in network investments;
    Ensuring 5,000 jobs in Quebec for a combined Rogers/Cogeco entity;
    Maintaining the Cogeco brand in Quebec; and
    Continuing relationships with local suppliers and contractors.
  • Over the last 10 years, Rogers has invested more than $2 billion in its wireless network in Quebec and offers wireless services across the province.
  • In January, Rogers started the rollout of Canadas first and largest 5G network in Montreal, and expanded the Rogers 5G network to Quebec City, Gatineau and Trois Rivires earlier this month.

Cogeco and Cogeco Communications Send Letter to Rogers Communications Inc. and Altice USA Inc.

Wednesday, September 16, 2020 - 8:45pm

From the outset, you have engaged in bad faith tactics, some of which created confusion in the market.

Key Points: 
  • From the outset, you have engaged in bad faith tactics, some of which created confusion in the market.
  • On behalf of the Boards of Directors of Cogeco Inc. and Cogeco Communications Inc.,
    Lead Director of the Boards of Directors of Cogeco Inc. and Cogeco Communications Inc.
    Link to the letter received from Rogers Communications Inc. and Altice USA Inc.
    Cogeco Inc. is a diversified holding corporation which operates in the communications and media sectors.
  • The subordinate voting shares of Cogeco Communications Inc. are also listed on the Toronto Stock Exchange (TSX: CCA).
  • Cogeco Communications Inc.'s subordinate voting shares are listed on the Toronto Stock Exchange (TSX: CCA).

Altice USA, Inc. and Rogers Communications Provide Statement on Cogeco’s Response to Acquisition Offer

Thursday, September 3, 2020 - 10:42pm

Upon completion of the overall transaction, Altice USA would own all the U.S. assets of Cogeco, namely Atlantic Broadband.

Key Points: 
  • Upon completion of the overall transaction, Altice USA would own all the U.S. assets of Cogeco, namely Atlantic Broadband.
  • Altice USA and Rogers provide the following comment:
    We strongly believe that we presented a very attractive offer one that would reward all Cogeco shareholders with a significant premium and we stand by that offer.
  • Neither Altice USA nor Rogers intend to disclose developments with respect to the offer unless it determines that disclosure is necessary or appropriate.
  • Through Rogers Sports & Media, we are engaged in radio and television broadcasting, sports, televised and online shopping, and digital media.