Altice USA, a broadband communications and video services provider, failed to acquire telecommunication holding company Cogeco and Cogeco Communications, a communications corporation operating in the broadband services industry, for $8.4bn. Altice also entered into an arrangement to sell all the Cogeco's Canadian assets to the largest long-term shareholder of Cogeco, Rogers Communications, a communications and media company if deal came through. The consideration included $3.6bn for US assets. “As we did on September 2, 2020, following the announcement of their first unsolicited proposal, members of the Audet family unanimously reject this further proposal. We repeat today that this is not a negotiating strategy, but a definitive refusal. We are not interested in selling our shares,” Louis Audet, Gestion Audem President. On September 9, 2020, Gestion Audem, the major investor in Cogeco, rejected the proposal citing an unwillingness to sell shares. On October 19, 2020, Audet family rejected an increased $8.4bn offer, citing an unwillingness to sell shares.