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All you need to know about the $26 billion Rogers – Shaw merger PUBLISHED BY
Rogers Communications Inc. will be taking over
Shaw Communications Inc. in a $26 billion deal. Rogers will acquire all outstanding class A and class B shares of Shaw Communications for $40.50 per share in cash, a premium of about 70% for a recent class B share price.
The deal also includes approximately $6 billion of Shaw debt and is expected to close in the first half of 2022.
The two Canadian companies are family-founded and have similar synergies. The combined entity will have the scale, assets, and capabilities needed to leverage innovation and growth in new telecommunications services with greater capabilities and bandwidths in wireless services.
Rogers signs agreement to acquire Shaw Communications in deal valued at $26 billion
The acquisition is subject to regulatory approval
Toronto-based national carrier Rogers has signed a deal to purchase Shaw Communications in a transaction valued at $26 billion.
The carrier says the acquisition will build on the legacy of two family-founded Canadian companies and that together, they will have the capability to deliver unprecedented wireline and wireless broadband and network investments.
Rogers has stated that it will not increase wireless prices for Freedom Mobile customers for at least three years following the close of the transaction.
âWithout a doubt, my father would be proud of this moment, combining forces with the company founded by his old friend to deliver more Canadians world class connectivity, more choice, and better value,â said Shaw Communications CEO Brad Shaw in a press release.