MONTREAL, Sept. 2, 2020 /PRNewswire/ - Cogeco Inc.
(TSX: CGO) and Cogeco Communications Inc. (TSX: CCA) (collectively,
the "Corporations") today announced that following the close of
business on Tuesday, September 1,
2020, they received an unsolicited, non-binding proposal
from Altice USA and Rogers
Communications Inc. The non-binding proposal will be submitted to
and reviewed by the Corporations' boards of directors today.
The non-binding proposal of Altice USA and Rogers Communications Inc., which was
pre-emptively announced today by Altice and Rogers, 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
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.