Rogers to Buy Shaw for $26 Billion to Combine Canada's Biggest Cable Giants
Calgary's Shaw family is backing the merger deal spearheaded by the Rogers family of Toronto. Rogers Communications is set to acquire rival cable giant Shaw Communications for $26 billion (US$20.8 billion). The deal, pending regulatory and shareholder approvals, will combine two Canadian cable, broadband Internet and wireless phone giants as the country heads towards a 5G rollout. As part of the deal, Rogers will purchase Shaw class A shares and class B shares for CAN$40.50 (US$32.40) each, which represents a 70 percent premium to Shaw's class B share price. The Shaw Family Trust, which repre...
Source: hollywoodreporter.com