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Alberta will gain 1,800 net new jobs as a result of Rogers Communications’ $20 billion purchase of Calgary-based Shaw Communications, the heads of the two companies promised Monday.
Shaw CEO Brad Shaw made the pledge together with Rogers president and CEO Joe Natale just hours after announcing the massive deal that will unite the former rival companies and permanently alter Canada’s wireless industry landscape. The $40.50 per share cash offer (a 69 per cent premium over Shaw’s closing price on Friday) has the support of Shaw’s board and the Shaw family, Brad Shaw said in an interview, adding they would not have agreed to the sale unless they were confident that Calgary and Alberta would come out ahead.
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Rogers is betting big on credit markets in US$16B Shaw deal
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Sometimes it takes decades for the business landscape to evolve.
Today, it feels like the corporate terrain in Calgary and across Alberta is transforming under our feet and the community will look vastly different coming out of the pandemic than it did 12 months ago.
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Try refreshing your browser, or Varcoe: We are at an inflection point as a community as takeover of Shaw hits corporate Calgary Back to video
The $26-billion acquisition Monday of Shaw Communications Inc. by Toronto-based Rogers Communications Inc. puts an exclamation point on the rapid pace of change that’s now unfolding.