Shaw shareholders approve sale of company to Rogers Communications


Shaw Communications Inc. shareholders have voted to approve the company’s sale to Rogers Communications Inc. for $26-billion, including debt.

Under the plan, Rogers will pay $40.50 in cash for all of Shaw’s issued and outstanding class A and class B shares.

Read more: Rogers’ $26B Shaw takeover will improve competition, telecom networks in Canada: execs

The deal still requires approval from Canadian regulators including the Competition Bureau and the CRTC.

Innovation, Science and Economic Development Canada is also reviewing the agreement.

Read more: Rogers set to buy Shaw in deal valued at $26 billion

The proposed deal has faced stiff opposition from consumer groups, academics, customers and others since Rogers and Shaw announced their agreement earlier this year.

Story continues below advertisement

As part of the transaction, the companies said Rogers will invest $2.5 billion in 5G networks over the next five years across Western Canada.

Sponsored content