Cox Enterprises Inc. and Cox Communications Inc. kicked off their previously announced tender offer Wednesday.
Cox Communications announced last month that it had accepted parent Cox Enterprises’ proposal, which will allow Cox Enterprises to take Cox Communications private.
Under terms of the offer, Cox Enterprises will pay $34.75 in cash for each Cox Communications share it does not already own.
The expiration date is Dec. 2, unless the offer is extended or withdrawn, the companies said.
Wachovia Corp. will act as the exchange agent and depositary in connection with the tender offer.