SJR.B:CC - Rogers Shaw extend outside date of merger to Dec. 31 2022

• Rogers Communications ( NYSE: RCI ) and Shaw Communications ( NYSE: SJR ) have agreed to extend the outside date of their proposed merger to Dec. 31, 2022.
• Rogers ( RCI ) announced its agreement to acquire Shaw ( SJR ) in March 2021.
• Outside date may be further extended to Jan. 31, 2023 at the companies' discretion, provided Rogers has committed financing available to complete the merger.
• The telecoms firms continue to pursue the divestiture of Freedom Mobile to Quebecor pursuant to the terms outlined in the previously disclosed agreement.
• Negotiation of the definitive transaction documents are underway, and the parties will provide an update in due course.
• The deal has already been approved by the shareholders of Shaw and the Court of Queen’s Bench of Alberta, and the Canadian Radio-television and Telecommunications Commission. It remains subject to review by the Competition Tribunal and Competition Bureau and approval by the Minister of Innovation, Science and Industry and other customary closing conditions.
• In other news, Rogers ( RCI ) reported its Q2 results today and affirmed 2022 guidance.

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