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Big Cable Merger North Of The Border As Rogers Communications To Buy Shaw For $20 Billion
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deadline.com
deadline.comCanada’s two biggest cable companies agreed to merge Monday with Rogers Communications announcing plans to buy Shaw Communications in a deal worth $20 billion Canadian ($16 billion U.S.) that would create a powerhouse in video and wireless.The purchase price includes the assumption of $6 billion in Shaw debt and equates to $40 a share, representing a 70% premium to Shaw’s recent stock price.
The deal is in cash except for 60% of the Shaw family shares that will be exchanged for shares of Rogers and make the Shaw family one of the combined company’s largest stockholders.
Synergies are expected to exceed $1 billion annually within two years of closing. (All figures are Canadian dollars unless otherwise indicated).Both companies are family
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