The Audet family, the controlling shareholders of Cogeco Communications Inc. announced that they would not accept the Altice offer to takeover the firm, on September 7, 2020. The plans were that the Canadian division of Cogeco would be sold to Roger's Communications, and Altice would retain the US operations. The deal was for $10.3 billion. The bid was officially rejected on September 14, 2020.
Cogeco is a well known communications company providing internet, cable and telephone services in Oakville, Ontario. Senior Director, Programming and Community Relations for Cogeco, Ted Caddigan is the chair of the Oakville Chamber of Commerce board of directors. The company sponsors a multitude of corporate and fundraising events. Cogeco operates YourTV which provides local programming including the program: Oakville Matters.
Within Halton, Cogeco is a major employer, operating a regional office from Burlington, Ontario. According to their website they are the second largest operator in Ontario. They also operate several retail outlets in Oakville.
Oakville mayor's Rob Burton released the following statement:
"I welcome the news that the Audet family, who hold controlling shares of Cogeco Inc. and, indirectly, Cogeco Communications Inc., are not selling their shares.
Cogeco Communications Inc. is a valued employer in Halton Region and trusted news source for many Oakville residents, I am pleased the company’s operations will be unchanged at this time."