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Taking a step closer to privatizing the nation's third-largest MSO, Cox Enterprises Inc. (CEI) and Cox Communications Inc. (CCI) commenced a cash tender offer for the outstanding CCI shares not already owned by CEI for $34.75 per share.

The companies said the tender offer will expire on December 2, unless it is extended or withdrawn. The CCI board has unanimously approved the tender offer and has recommended that CCI shareholders tender their shares under the current offer.

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