CA - Shaw Communications gains ahead of walk deadline for Rogers deal

2023-03-30 15:40:21 ET

• Shaw Communications ( NYSE: SJR ) rose almost 1% ahead of a Friday deadline for the parties to walk from Rogers ( NYSE: RCI ) planned C$20 billion takeover as the parties await Canadian regulator approval. Rogers gained 1.6%.
• The parties in February extended the "outside date" for the transaction to Friday from February 17 after it was earlier extended from Jan. 31.
• A decision on the deal largely rests in the hands of François-Philippe Champagne, Canada's Minister of Innovation, Science and Industry, who is set to grant or deny a license to transfer Shaw's Freedom spectrum to Quebecor's ( OTCPK:QBCRF ) Vidéotron and said in January will be making a " decision in due course ."
• Champagne's approval of transferring wireless licenses from Shaw to Quebecor - allowing for the sale of Shaw's Freedom Mobile to Quebecor subsidiary Vidéotron - is the last real hurdle for the deal, which in late January won appeals court approval .

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