The new bid is for $11.1 billion, an $800-million premium on the rejected September offer. (The Logic)

Talking point: The Audet family, which controls Cogeco, isn’t budging, and it’s not clear what Rogers and Altice can do to change things. As Louis Audet put it today, “This is not a negotiating strategy, but a definitive refusal. We are not interested in selling our shares.” Altice said its new bid followed discussions with holders of subordinate voting shares. But it’s not just the Audet family throwing cold water on this new bid. The Caisse de dépôt et placement du Québec—whose 21 per cent stake in Cogeco subsidiary Atlantic Broadband would be worth about US$819 million if this latest offer were accepted—said Monday it remained “aligned with the Audet family.”