Shaw shareholders approve sale of company to Rogers Communications

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Shaw Communications Inc. shareholders have voted to approve the company’s sale to Rogers Communications Inc. for $26-billion, including debt.

Under the plan, Rogers will pay $40.50 in cash for all of Shaw’s issued and outstanding class A and class B shares.

Read more:
Rogers’ $26B Shaw takeover will improve competition, telecom networks in Canada: execs

The deal still requires approval from Canadian regulators including the Competition Bureau and the CRTC.

Innovation, Science and Economic Development Canada is also reviewing the agreement.

Read more:
Rogers set to buy Shaw in deal valued at $26 billion

The proposed deal has faced stiff opposition from consumer groups, academics, customers and others since Rogers and Shaw announced their agreement earlier this year.

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As part of the transaction, the companies said Rogers will invest $2.5 billion in 5G networks over the next five years across Western Canada.




© 2021 The Canadian Press

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