Communications giants Rogers, Shaw and the Shaw Family Living Trust announced Wednesday morning that they are extending the deadline for the proposed merger of Rogers and Shaw to December 31, 2022.
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In a joint press release, the companies say they want to demonstrate “their desire to carry out this transformational alliance”.
“Rogers and Shaw are continuing the process of divesting Freedom Mobile to Quebecor under the terms set out in the previously disclosed agreement. Negotiation of the final transaction documents is progressing, and the parties will provide an update in due course.
The amount of the acquisition, concluded by Quebecor with Rogers Communications and Shaw Communication, is valued at $2.85 billion, according to the three companies.
This transaction, announced last June, remains subject to review by the Competition Bureau and the Competition Tribunal, and approval by the Minister of Innovation, Science and Industry, as well as other customary closing conditions.