Canada’s Rogers closes C$20 billion deal for rival Shaw By Reuters



© Reuters. FILE PHOTO: Ethernet cables are seen in entrance of Rogers and Shaw Communications logos on this illustration taken, July 8, 2022. REUTERS/Dado Ruvic/Illustrations

(Reuters) – Rogers (NYSE:) Communications Inc on Monday stated it had closed the takeover of smaller rival Shaw Communications (NYSE:) Inc, days after Canada gave its ultimate approval for the C$20 billion ($14.87 billion) deal.

Minister of Innovation, Science and Business Francois-Philippe Champagne agreed to the switch of wi-fi licenses held by Shaw’s Freedom Cellular unit to Quebecor Inc beneath some situations, paving the way in which to create Canada’s no. 2 telecom firm.

Quebecor introduced it had closed the Freedom Cellular deal on Monday.

Right here is the snapshot of key occasions in Rogers-Shaw merger:

Date Improvement

March 15, Rogers Communications says it’ll purchase Shaw for

2021 about C$20 billion ($16.02 billion)

Aug. 5, 2021 The Canadian regulator begins to look into the

bid and obtains courtroom orders to advance its

assessment

Jan. 10, Rogers appoints insider and trade veteran

2022 Tony Staffieri as president and CEO to steer the

firm by means of Shaw’s acquisition

Could 9, 2022 Canada’s antitrust company seeks to dam

Rogers-Shaw $16 billion merger

Could 30, 2022 Rogers agrees with Canada’s competitors bureau

to place Shaw merger on maintain

June 3, 2022 Rogers asks tribunal to scrap the competitors

bureau’s rejection, argues the merger will

create extra competitors fairly than stifle it

June 17, Antitrust regulator says it stays against

2022 Rogers plan to purchase Shaw

June 18, Quebecor agrees to purchase Shaw unit Freedom Cellular

2022 for an enterprise worth of C$2.85 bln ($2.19

bln) to allay anti-competition issues

June 24, Canada’s Rogers, Shaw and competitors watchdog

2022 agree to start out mediation

July 6, 2022 Rogers says talks to debate doable treatments

to the blocked takeover of Shaw didn’t consequence

in a decision

July 22, Canada’s antitrust company says wants extra time

2022 to research concession supplied by Rogers

July 27, Rogers extends deadline to shut the buyout

2022

Aug. 12, Rogers and Shaw finalize settlement to promote

2022 Freedom Cellular to Videotron, a unit of Quebecor

Oct. 28, Rogers, Shaw and Quebecor fail to mediate their

2022 variations with Canada’s competitors bureau

over the bid

Dec. 30, Canada’s competitors tribunal approves Rogers

2022 bid for Shaw

Jan. 3, 2023 A Federal Court docket put a keep on the Rogers-Shaw

merger following a request from Canada’s

Competitors Bureau after antitrust tribunal’s

approval

Jan. 17, Rogers says the merger has been delayed lengthy

2023 sufficient and have to be allowed to proceed regardless of

the competitors bureau’s opposition

Jan. 24, A Canadian courtroom dismisses the competitors

2023 bureau’s effort to overturn the merger approval

by Canada’s antitrust tribunal

Jan. 25, Canada’s Competitors Bureau drops plans to kill

2023 the deal following two defeats in courts in

lower than a month

Jan. 30, Rogers and Shaw lengthen deadline for his or her C$20

2023 billion ($15.01 billion) merger to Feb. 17 from

January finish awaiting authorities approval

Feb. 17, Rogers additional extends the deadline for the

2023 merger with Shaw for the fourth time to March

31

March 31, Canada grants the ultimate approval for Rogers

2023 buyout of Shaw, paving the way in which for the creation

of the nation’s No. 2 telecoms firm

Rogers

April 3, closes

2023 Shaw acquisition; Quebecor closes

Freedom Cellular deal

($1 = 1.3453 Canadian {dollars})

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