Rogers Communications has signed a deal to purchase Shaw Communications in a deal valued at $26 billion, together with debt.
Beneath the plan, Rogers pays $40.50 in money for every of Shaw’s issued and excellent class A and sophistication B shares. Shaw’s class B shares closed at $23.90 on the Toronto Inventory Alternate on Friday.
As a part of the transaction, the businesses mentioned Rogers will make investments $2.5 billion in 5G networks over the following 5 years throughout Western Canada.
Rogers additionally says it would create a brand new $1 billion fund devoted to connecting rural, distant and Indigenous communities throughout Western Canada to high-speed web service.
The deal, which is topic to different customary closing situations in addition to approvals from Canadian regulators, is predicted to shut within the first half of 2022.
Extra to return.