Rogers boosts stake in Cogeco again; owns north of 30% now

TORONTO - Rogers Communications announced late Thursday that it has spent $75 million on voting shares of Cogeco Cable and Cogeco Inc.Rogers Communications is acquiring the subordinate voting shares of Cogeco Cable (892,250 of them) at a cash purchase price, excluding commissions, of $43.98 per share, for aggregate consideration of $39.2 million. As for Cogeco Inc., Rogers has agreed to purchase 946,900 shares for $35.7 million.Rogers already owns a large stake of the company’s voting and non-voting shares. The Cogeco Cable shares being acquired represent approximately 2.7% of the subordinate voting shares and after these purchases, Rogers will own 10,687,925...