Wall Street bankers and analysts were on Monday scrambling to assess the chances that a higher offer could emerge for Cablevision in the wake of the Dolan family's $9.8bn proposal to break up the US cable and entertainment group.

In Monday's trading, Cablevision's shares rose 19.09 per cent to $32.00 or below the $33.50 per share offered by the controlling shareholders in a letter to the board on Sunday.