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 Toronto announced on October 18, 2020.
The boards of directors of the Corporations met earlier today to
consider the revised unsolicited, non-binding proposal from Altice
USA, Inc. and Rogers
Communications Inc. At that meeting, Mr. Louis Audet, as representative of the Audet
family, formally confirmed to the boards the publicly stated
unanimous position of the Audet family as set out in its press
release dated 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 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.