Rogers Communications is set to acquire rival cable giant Shaw Communications for $26 billion (US$20.8 billion). The deal, pending regulatory and shareholder approvals, will combine two Canadian cable, broadband Internet and wireless phone giants as the country heads towards a 5G rollout.
As part of the deal, Rogers will purchase Shaw class A shares and class B shares for CAN$40.50 (US$32.40) each, which represents a 70 percent premium to Shaw's class B share price.
The Shaw Family Trust, which represents Calgary's Shaw family and the controlling shareholder of Shaw Communications, has agreed to vote in favor of the merger deal.
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