Cogeco Offers $1.36B For Atlantic Broadband, US Presence

Law360, New York (July 18, 2012, 2:29 PM EDT) -- Cogeco Cable Inc. will hand over $1.36 billion for Atlantic Broadband Group LLC, the 14th-largest cable provider in the U.S. and owned by two private equity firms, lightening its reliance on the competition-thick Canadian market, the buyer said Wednesday.

Canada-based Cogeco will back the deal through a mix of on-hand cash, a cut from its existing credit facility of $550 million and $660 million in debt. Bank of America Merrill Lynch will provide committed debt financing.

Subject to regulatory approval, Cogeco and the sellers, private equity...
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