Telus to acquire remaining Telus Digital shares for $539 million at $4.50 per share

[A Telus sign atop of their office in downtown Toronto.]
James Wagner/iStock Editorial via Getty Images

Telus (NYSE:TU [https://seekingalpha.com/symbol/TU]) to acquire [https://seekingalpha.com/pr/20216967-telus-and-telus-digital-enter-into-a-definitive-arrangement-agreement-for-telus-to-acquire] all the outstanding multiple voting shares and subordinate voting shares of Telus Digital not already owned by Telus for $4.50 per share, reflecting aggregate consideration of $539 million.

The transaction values Telus Digital's equity at approximately $1.3 billion, based on approximately 114.3 million outstanding subordinate voting shares and 164.4 million outstanding multiple voting shares, for a total transaction value of about $2.9 billion.

Telus (NYSE:TU [https://seekingalpha.com/symbol/TU]) currently owns approximately 6.0% of the outstanding subordinate voting shares and 92.5% of the outstanding multiple voting shares of Telus Digital.

The agreement sets the stage for closer operational integration between Telus and Telus Digital to enhance AI and SaaS transformation across telecommunications, health, agriculture, and consumer goods sectors, the company said.

Telus Digital's independent special committee determined the arrangement is in the best interests of Telus Digital and fair to minority shareholders and unanimously recommends shareholders vote in favor of the arrangement.

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