Canadian Cable Giants Rogers, Shaw Merge in $20 Billion Deal
Naman Ramachandran Canada’s Rogers Communications is buying competitor Shaw Communications in a deal worth CAD$26 billion ($20.8 billion).Rogers will acquire all issued and outstanding Class A Shares and Class B Shares of Shaw, which reflects a premium of approximately 70% to Shaw’s recent Class B Share price.Both entities began trading as family-run businesses. The Shaw family will become one of the largest shareholders in Rogers, and Brad Shaw along with another director to be nominated by the Shaw family, will join the Rogers Board of Directors when the transaction closes.