Posted on Nov 24, 2020 at 4:51 p.m.Updated Nov 24, 2020, 5:51 PM
How to bounce back in the United States after the failure of Altice USA’s takeover bid for its rival Cogeco? A month after receiving a termination from the Canadian cable operator that Altice wanted to swallow for $ 8.4 billion, Patrick Drahi, the CEO and founder, obviously chose to put his eggs in another basket. At least for the moment.
On Monday, Altice USA announced that it would put $ 2.5 billion on the table as part of a massive share buyback program covering 19% to 22% of the capital in Class A (and 13% to 14 % by adding Class B shares). Concretely, the group will offer shareholders a price ranging from $ 32.25 to $ 36 per share. This is a premium of 0 to 12% compared to the closing price of November 20, which reached $ 32.27.
Source link by https://www.lesechos.fr/tech-medias/hightech/pourquoi-altice-usa-rachete-ses-actions-pour-25-milliards-de-dollars-1267845
*The article has been translated based on the content of Source link by https://www.lesechos.fr/tech-medias/hightech/pourquoi-altice-usa-rachete-ses-actions-pour-25-milliards-de-dollars-1267845
. If there is any problem regarding the content, copyright, please leave a report below the article. We will try to process as quickly as possible to protect the rights of the author. Thank you very much!
*We just want readers to access information more quickly and easily with other multilingual content, instead of information only available in a certain language.
*We always respect the copyright of the content of the author and always include the original link of the source article.If the author disagrees, just leave the report below the article, the article will be edited or deleted at the request of the author. Thanks very much! Best regards!
These were the details of the news Why Altice USA is buying back its shares for 2.5 billion... for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.
It is also worth noting that the original news has been published and is available at en24 news and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.
