Shareholders turn down buyout offer from founders

29 Oct 2007

Shareholders of the US cable operator Cablevision have rejected a USD10.5 billion buyout offer by the family which founded the company. In May the Cablevision board approved a USD36.26 per share buyout offer from the Dolan family, having turned down two previous bids from the company’s founder and chairman, Charles Dolan, and his son, CEO James Dolan. The Dolans say ‘there is nothing negative’ about the latest decision, MarketWatch reports. Cablevision offers cable TV and internet services in a number of US markets, including New York City.

United States, Cablevision Systems (Optimum)