National

Telus buying LifeWorks in deal valued at $2.9B

Darpan News Desk The Canadian Press, 16 Jun, 2022 09:36 AM

VANCOUVER - Telus Corp. has signed a deal to buy LifeWorks Inc. valued at $2.9 billion including debt.

LifeWorks, formerly known as Morneau Shepell, helps companies with employee and family assistance plans, absence management, pension and benefits administration and retirement planning.

Under the agreement, LifeWorks shareholders will have the option to receive $33 in cash or 1.0642 Telus shares for each LifeWorks share held, subject to pro-ration.

The amount of cash and number of shares will be limited so that Telus will pay for half the deal in cash and half in shares.

LifeWorks shares closed at $18.20 on the Toronto Stock Exchange on Wednesday. Telus shares closed at $29.36.

The deal requires support by a two-thirds majority vote by LifeWorks shareholders as well as court and other regulatory approvals.

Prev Next

MORE National ARTICLES

Scrap drug decriminalization thresholds: coalition

To date, British Columbia, Toronto and Vancouver have asked Ottawa for section 56 exemption requests under the Controlled Drugs and Substances Use Act, which would decriminalize the possession of small amounts of substances like cocaine, heroine and fentanyl.

Scrap drug decriminalization thresholds: coalition

PBO: Inflation boosts spending on seniors' aid

Federal health transfers are calculated to grow by at least three per cent each year, but the budget office says that health-care transfers are set to rise by almost five per cent year-over-year.

PBO: Inflation boosts spending on seniors' aid

Nanaimo, B.C., couple lose $400,000 in scam

A statement from police says the couple, who are both in their late 80s, were contacted by phone early last year. They were told they had won $18.5 million and a Mercedes-Benz but would have to pay administrative fees in order to collect.

Nanaimo, B.C., couple lose $400,000 in scam

Health workers emergency summit warns of burnout

Health workers have now endured two difficult years of pandemic conditions, leading to serious burnout across nearly all sectors of the health-care system.

Health workers emergency summit warns of burnout

Trudeau, Polish leaders, discuss refugee crisis

Prime Minister Justin Trudeau is in Poland today meeting with Duda and Poland's Prime Minister Mateusz Morawiecki as an estimated 100,000 Ukrainian refugees pour into Poland every day.

Trudeau, Polish leaders, discuss refugee crisis

Charest to launch Conservative leadership bid

Winning is something Conservatives want to see after three back-to-back losses to Liberal Prime Minister Justin Trudeau, whose minority of seats in the House of Commons means an election could be triggered at any point.