Rogers Communications C$26 billion acquisition of Shaw Communications

15/3/2021
Public acquisition

C$ 26 billion

Announced

15/3/2021


Overview:

  • Canadian telecommunications company Rogers Communications announced it will acquire fellow Canadian telecoms company Shaw Communications for C$26 billion.
  • Rogers will acquire all of Shaw’s outstanding and issued Class A and B shares at C$40.50 per share, as well as C$6 billion of Shaw debt. The transaction is expected to close H1 2022.
  • BofA Securities and Barclays is the financial advisor to Rogers. TD Securities is the financial advisor to Shaw. CIBC World Markets is an independent financial advisor to the Special Committee of Shaw.
  • Following completion of the acquisition, the company will invest C$2.5 billion in 5G networks throughout Western Canada over the following five years.

Chynna Lewis - Researcher

Jurisdiction:

Canada

Deal type:

Public acquisition

Practice area:

M&A

Governing law:

Canada

Industry sector:

Technology and telecommunications


Firms:

Party: Special Committee of the Shaw Communications Board of Directors (Target)


Party: Rogers Communication (Acquirer)


Party: Shaw Communications (Target)


Party: Shaw Family Living Trust (Target)


Party: Rogers Communication (Acquirer)


Party: Rogers Control Trust (Acquirer)