The Traderszone Network

Published in TZ Latest News 16 September, 2015 by The TZ Newswire Staff

Altice to buy U.S. firm Cablevision for $17.7 billion: sources

Shares of Cablevision, which is controlled by New York’s Dolan family, jumped as much as 16 percent to $33.12 after the bell as details of the takeover deal, which includes Cablevision’s debt, became public. The sources said Altice will pay $34.90 per share for Cablevision and will finance the deal through banks and by selling additional shares. As part of the deal, BC Partners and the Canada Pension Plan Investment Board, the minority stake holders of Suddenlink [CQUELS.UL], may buy 30 percent of Cablevision’s equity, the sources added.