The $11.1-billion hostile offer to acquire the Quebec-based Cogeco and its subsidiary Cogeco Communications expired on Wednesday, after controlling patriarch Louis Audet issued a firm “non.” (La Presse)
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The $11.1-billion hostile offer to acquire the Quebec-based Cogeco and its subsidiary Cogeco Communications expired on Wednesday, after controlling patriarch Louis Audet issued a firm “non.” (La Presse)
Talking point: “It just wasn’t meant to be,” said Rogers CEO Joe Natale of the company’s attempt, with New York-based Altice, to buy Cogeco. It certainly wasn’t for lack of trying. What Natale described as a “very compelling offer” was the Toronto-based cable giant’s second, after the Audets demurred on the first $10.3-billion gambit put forward in September. Rogers, analysts have suggested, will likely sell its shares in Cogeco now that the deal has fallen through. It’s not Rogers’s first failure to grab a piece of valuable Quebec real estate. Québecor, with help from the Caisse de dépôt, outbid the company for Vidéotron in 2000.
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