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|Subject: Cablevision - Dolans want the whole thing!||Date: 10/9/2006 2:50 PM|
|Author: tenshuma||Number: 106 of 113|
The Dolan family, which controls Cablevision Systems Corp., on Monday said it offered to buy the remaining shares it does not already own in a deal that values the company at $7.9 billion, sending its shares up almost 12 percent.
Shareholders would receive $27 per share in cash, under the terms of the deal proposed in a Sunday letter to the board of directors, according to a statement issued by the family, which said it was not aiming to sell Cablevision.
The deal, which follows a thwarted effort by the Dolans to buy out the company last year, implies an enterprise value of $19.2 billion, which includes debt for Cablevision.
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