Cogeco completes deal for Peer 1 Network Enterprises

MONTREAL, QUEBEC and VANCOUVER, BRITISH COLUMBIA - Cogeco Cable has completed the purchase of all of the issued and outstanding common shares of IT hosting provider Peer 1 for $3.85 per share in a transaction valued at $526-million. Cogeco is financing the deal primarily through credit, with National Bank of Canada acting as underwriter. "We are excited that all conditions of our offer have been satisfied and are thrilled with the prospects this acquisition presents to Cogeco Cable shareholders, customers and employees," said Louis Audet, President and CEO of Cogeco Cable. "We are fully committed to implementing our growth strategy...