Cogeco Cable Inc, a Canadian company that serves mostly rural customers in Ontario and Quebec, said it will purchase PEER 1 Network Enterprises Inc for about C$526 million to expand its cloud computing and data hosting services. Montreal-based Cogeco, which provides cable-TV, high-speed internet and telephone services, offered C$3.85 for each PEER 1 share. The offer is at a premium of 30.5 percent to PEER 1 stock's Thursday close.
Cogeco Cable, Inc. is a Canada-based Company, which provides diversified communications services. Shares of CCA remained unchanged at $40.97. In the past year, the shares have traded as low as $34.45 and as high as $54.28. On average, 48291 shares of CCA.TO exchange hands on a given day and today's volume is recorded at 32487.
Peer 1 Network Enterprises, Inc. is a Internet infrastructure provider, delivering managed, colocation and network services through 17 data centers located in 14 cities across North America and the United Kingdom, all connected together by its own Internet Protocol (IP) backbone network. Shares of PIX remained unchanged at $2.95. In the past year, the shares have traded as low as $1.65 and as high as $3.06. On average, 74723 shares of PIX.TO exchange hands on a given day and today's volume is recorded at 709645.
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