Transformative Deal Between Shaw and Rogers to Expedite Canada's

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DAVIES WARD PHILLIPS & VINEBERG LLP March 15, 2021 Transformative Deal Between Shaw and Rogers to Expedite Canada’s 5G Rollout Shaw Communications Inc. and Rogers Communications Inc. have reached an agreement for Rogers to acquire all of Shaw’s issued and outstanding Class A and Class B shares in a transaction valued at approximately $26 billion, including debt, representing a significant premium for Shaw’s shareholders. Davies is acting for Shaw on the transaction, which will see the combined company invest $2.5 billion in 5G networks over the next five years across Western Canada, closing the digital divide between urban and rural communities, and delivering significant longterm benefits for businesses and consumers. The network investments will also create up to 3,000 new jobs across Alberta, British Columbia, Manitoba and Saskatchewan. In addition to accelerating the delivery of critical 5G service, Rogers will establish a new $1 billion Rogers Rural and Indigenous Connectivity Fund dedicated to connecting rural, remote and Indigenous communities across Western Canada to highspeed Internet and closing connectivity gaps faster for underserved areas. The transaction, which builds on the strong legacy of the familyfounded Canadian companies, is expected to close in the first half of 2022, pending regulatory approvals. The Davies team advising on the transaction includes Vincent Mercier, Brett Seifred, Marc Pontone, Andrew Mihalik and Michael Rafalovich (M&A); John Bodrug, Elisa Kearney and Joshua Hollenberg (Competition); Christopher Anderson and Andrew Ellis (Tax); and Seann McAleese (Employment). dwpv.com 1.

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