Altice N.V. (Euronext: ATC, ATCB) and Cablevision Systems Corporation (NYSE: CVC; S&P 500) today announced that they have entered into a definitive agreement for Altice to acquire Cablevision. Under the agreement, Altice will deliver $34.90 in cash for each Cablevision share.
Negotiations are conducted from July this year. During this period, shares of Cablevision Systems Corporation jumped to $ 32.83 at 52W Range = $ 16.45 - $ 28.97. The transaction will be fully finalized in the first half of 2016. According to Bloomberg, the current subscribers of Cablevision on Q2 were 2.6 million people.
The acquisition of Cablevision represents Altice’s next step in the US market following the announced acquisition of Suddenlink earlier this year. Together both operators represent the 4th largest cable operation in the US market.
JrTrader G.Hristov
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