Drahi Buckles Under Pressure, Raises Offer for Altice Europe

The ongoing saga of the attempt by French billionaire Patrick Drahi to take Altice Europe private took a further twist on Wednesday, when the offer price was raised from the original €4.11 to €5.35 (US$6.5) per share...Hedge fund Lucerne Capital Management, which manages funds that own about €106 million ($129 million) of shares in Altice Europe, has been particularly vocal in its opposition to the offer...

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