Altice USA Inc. announced that It has made an offer to Cogeco Inc. and Cogeco Communications Inc. to acquire Cogeco, making Altice the owner of Atlantic Broadband.
If the offer goes through, Altice would sell he Canadian assets of Cogeco to Rogers Communications, Inc.
Atlantic Broadband is currently the 9th largest cable operator in the US, offering broadband, phone, and video services for businesses and residents in Connecticut, Delaware, Florida, Maine, Maryland, New Hampshire, New York, Pennsylvania, South Carolina, Virginia and West Virginia.
“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 company said in an announcement about the offer.
Detailing its offer, Altice shared that the aggregate all-cash consideration offered for all of the outstanding shares of Cogeco Inc. and Cogeco Communications Inc. is approximately $7.8 billion, including approximately $3.6 billion that Altice would pay for the US assets.
“We look forward to the opportunity to extend Altice USA’s high-quality broadband, video, mobile, and news offerings to more than 1.1 million additional homes and businesses,” said Dexter Goei, Chief Executive Officer of Altice USA.