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Altice offered C$11.1 billion to acquire Cogeco, up from a C$10.3 billion ($7.8 billion) deal rejected by major investor the Audet family last month.
New York-based Altice said the revised offer included C$900 million to the Audet family for their ownership interests, from C$800 million previously.
It also revised its offer to Cogeco’s largest shareholder, Rogers (NYSE:ROG) Communications Inc (TO:RCIb), to sell it all of Cogeco’s Canadian assets for C$5.2 billion.
Upon completion of the overall transaction, Altice USA would own all the U.S. assets of Cogeco and Rogers would own the Canadian assets, the company said in a statement.
Altice said it would withdraw its revised offer if a deal was not reached by Nov. 18.
Members of the Audet family, which holds a majority voting share in Cogeco via a holding company, reiterated last month that they were not interested in selling their shares.
($1 = 1.3180 Canadian dollars)
