Canada's Cogeco Cable buys Atlantic Broadband for $1.36 bln
TORONTO, July 18
TORONTO, July 18 (Reuters) - Cogeco Cable Inc, a Canadian cable company that serves mostly rural customers in Ontario and Quebec, said on Wednesday it would pay $1.36 billion to acquire Atlantic Broadband, an independent cable system operator in the United States.
The Montreal-based company said it would finance the deal with a combination of cash, a $550 million draw-down on its revolving credit, and a $660 million of debt financing.
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