By Denis Carmel
MONTREAL – In its fight against Altice and Rogers, who unsuccessfully launched an unsolicited takeover bid, Cogeco has earned some local support has in response to this attempted takeover.
For example, Marianne Meed Ward, mayor of Burlington (home of the company’s biggest office), wrote in a public statement last week: “As one of Burlington’s largest employers, Cogeco is a key member of our business community and has been a valued contributor to our local economy and connectivity for more than 30 years.”
“I spoke with executive chairman of the board, Louis Audet… who reiterated to me that Cogeco has no intention to sell their controlling stake in the company. He shared his family’s vision to continue their longstanding legacy of providing connectivity to the communities they serve.”
Cogeco’s head office in Ontario, located in Burlington, employs over 1,000 employees in 100,000 square feet of office and retail space.
Mayor Ward’s statement was also supported by Anita Cassidy, executive director and Randall Smallbone, chair of the Burlington Economic Development. “Earlier this week, our Mayor issued a statement regarding the offer, and we would like to echo her statement as well as show our support for Cogeco and the Audet family.”
In a similar statement, the Mayor of Oakville Rob Burton added, “I welcome the news that the Audet family, who hold controlling shares of Cogeco Inc. and, indirectly, Cogeco Communications Inc., are not selling their shares.”
“I have enjoyed the local content on YourTV and my time hosting Oakville Matters, over the years, informing residents and having various community groups join me on the show,” he went on, referencing the company’s community channel.
Jean Lamarche, Mayor of Trois-Rivières with the city’s 14 municipal councillors, sent a letter to Navdeep Bains, minister of Innovation, Science and Economic Development, denouncing Rogers and Altice’s actions trying to take over Cogeco, which is officially headquartered, and was founded in, Trois-Rivières.
“The discussions surrounding Cogeco’s future a threatening the structuring and mobilizing contribution of that enterprise for our social, economical and cultural sectors,” the statement from Lamarche reads in French.
As well, Drew Redden—president of the Oakville Chamber of Commerce, Keanin Loomis—president and CEO of the Hamilton Chamber of Commerce, Keith Hoey, former president of Burlington Chamber of Commerce and Halton Industry Education Council made their voices heard in individual tweets praising Cogeco’s involvement in their respective communities.
This show of support of the business and political representatives who have publicly spoken in favor of Cogeco concerning Rogers/Altice hostile proposal is encouraging for the Audet family, as the battle continues.
