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

Russian troops planted mines in playgrounds: Joly

Speaking from Berlin, she says she was told not to step off the sidewalk in Irpin because the Russians planted so many mines in the town, including around people's homes, before their retreat.

Russian troops planted mines in playgrounds: Joly

Delayed snowmelt increases flood risk in B.C.

The May 1 Snow Survey Bulletin says a colder-than-normal April and start of May in the province has delayed the snowmelt. However, the bulletin says snow level is only one factor related to the spring flooding, and the risk of flood is possible even with normal or below-normal snowpacks.

Delayed snowmelt increases flood risk in B.C.

Government coffers fuller than expected: analysis

As a result, the financial services company says, federal and provincial governments all saw an improvement in their 2021-22 deficit estimates and starting points for the rest of their fiscal forecast.

Government coffers fuller than expected: analysis

Some cities won’t hit child-care fee target: study

The study by the Canadian Centre for Policy Alternatives says because provinces and territories are taking different approaches to try to meet the government’s initial fee reduction targets, some might miss them.

Some cities won’t hit child-care fee target: study

Long wait-lists for elective surgeries persist

The new report shows hospitals and health systems have gotten better at weathering spikes of COVID-19 infection since the virus first struck the country in early 2020. But the number of surgeries performed still fluctuates with each pandemic wave, compounding backlogs every time.

Long wait-lists for elective surgeries persist

Ballistic missile defence on the table: Anand

Anand told a conference hosted by the Canadian Global Affairs Institute that the government is taking "a full and comprehensive look" at ballistic missile defence as part of a larger review of what is needed to better protect North America from attack.