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

B.C. Liberal asks court to delay leadership result

Bajwa, a longtime party member and former Surrey mayoral candidate, wants the court to delay announcing the winner of the leadership vote for 15 days in order for the party to provide more details about the audit results and process.

B.C. Liberal asks court to delay leadership result

Significant seizure of guns, drugs, cash and luxury vehicles: Coquitlam RCMP

In September 2020, Coquitlam RCMP received information about an alleged drug trafficking network that prompted the Coquitlam Drugs and Organized Crime Section to start an intensive, in-depth investigation. After a thorough multi-jurisdictional investigation, police obtained seven search warrants that were executed between April and December of 2021.

Significant seizure of guns, drugs, cash and luxury vehicles: Coquitlam RCMP

Canada in talks about adding forces to Europe

Yet even as the United States became the latest NATO member to commit more forces to the region with the deployment of 3,000 additional troops to Europe, Anand is declining to say when a Canadian decision could come.

Canada in talks about adding forces to Europe

Police expect resurgence in Ottawa protest

The police chief said he knows people in Ottawa want to see more enforcement from police officers as protesters continue to cause gridlock in the downtown core near Parliament Hill and put a significant burden on residents and business, many of which have had to shut their doors.

Police expect resurgence in Ottawa protest

Possible contenders for Conservative leadership

Erin O'Toole has been voted out as leader of the Conservative Party of Canada. A look at some potential contenders to replace him. Rona Ambrose- a cabinet minister in the Conservative government of former prime minister Stephen Harper who became interim leader after he lost the 2015 election.

Possible contenders for Conservative leadership

O'Toole to stay on as MP after losing leadership

About one-third of the Conservative MPs in caucus triggered a leadership review after weeks of anger and disappointment over his performance since last year's election loss.