Cogeco Cable Acquires PEER 1 Network Enterprises

Cogeco Cable Inc. (“Cogeco Cable”), a telecommunications corporation headquartered in Montreal and the eleventh largest hybrid fibre coaxial cable operator in North America, completed its acquisition of PEER 1 Network Enterprises, Inc. (“PEER 1”) by way of a take-over bid for cash consideration of $3.85 per common share valuing PEER 1 at approximately $635 million.

In connection with the completion of the take-over bid, Cogeco Cable entered into new credit facilities with a syndicate of lenders led by National Bank of Canada in the aggregate amount of the Canadian equivalent of $650 million.

Cogeco Cable was represented by its team of in-house counsel led by Christian Jolivet, its Vice President, Chief Legal Officer and Secretary, and was assisted by McCarthy Tétrault LLP in connection with the acquisition with a team led by Patrick Boucher that included Max Rogan, Sven Milelli, Sophie Gupta and Maxime Léveillé (business law) and Doug Cannon and Ryan Rabinovitch (tax).

With respect to US matters, Cogego Cable was represented by Simpson Thacher & Bartlett LLP with a team led by Gary Horowitz and that included Sharo Atmeh and Brian Park (M&A) and Kenneth Ehrhard (antitrust).

Stikeman Elliott LLP also represented Cogeco Cable in connection with the completion of the credit facilities with a team led by Jean Lamothe that included Sylvia Avedis and Maxime Jacquin.

PEER 1 was represented by Ben Young, its General Counsel, and was assisted by Torys LLP and Borden Ladner Gervais LLP (BLG). The team from Torys consisted of Matthew Cockburn, Jim Miller, Josh Lavine and Leah Towell (business law) and Corrado Cardarelli (tax). The BLG team included Nigel Cave, Rick Bennett, Stephen Antle, Robert Shouldice and Patrick Lindsay.

The principal shareholders of PEER 1 were represented by Goodmans LLP. The Goodmans team comprised Neill May and Michael Partridge.

The syndicate of Lenders was represented by Norton Rose Canada LLP with a team that included David Lemieux, Martin Theriault, Elliot Shapiro and Pascal Rodier.