Cablevision Investor Sues To Halt $17.7B Altice Deal

Law360, Wilmington (September 25, 2015, 7:17 PM EDT) -- An investor in Cablevision Systems Corp. launched a putative class action in the Delaware Chancery Court on Thursday looking to halt the blockbuster $17.7 billion acquisition by European telecommunications giant Altice NV, arguing the deal price is too low given the target's potential for "significant long-term growth."

Cablevision shareholder James R. Gould Jr. argued that while the $34.90-per-share deal price represents a 22 percent premium on the stock's close before the deal was announced, it cashes out shareholders without taking into account the real benefits they'd reap from the company's continued growth.

"Cablevision has beat consensus analyst estimates for sales in...

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