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

Hospitals watching for kids' liver disease: Henry

Dr. Bonnie Henry says none of the possible cases of severe acute hepatitis, or liver inflammation, are in British Columbia, but it isn't her place to identify where they are or exactly how many.

Hospitals watching for kids' liver disease: Henry

Man dies in Maple Ridge shooting, IHIT investigating

Frontline officers arrived on scene to find an injured man suffering from alleged gunshot wounds. An off-duty Vancouver Police officer and an off-duty nurse were on scene attempting life saving measures on the man, who died on scene. It is unknown if this is related to the Lower Mainland gang conflict.

Man dies in Maple Ridge shooting, IHIT investigating

16 year old at New Westminster high school assaulted with 'blunt force weapon'

Patrol members located a 16 year old victim receiving medical treated by school staff. The youth was transported to a local area hospital for treatment of his injuries which included a significant laceration to his head, and suspected concussion and broken arm.

16 year old at New Westminster high school assaulted with 'blunt force weapon'

Moderna preps to seek shot approval for young kids

Moderna says it's working on a submission to Health Canada for the approval a COVID-19 vaccine for children under the age of six. The biotech company on Thursday asked U.S. regulators to authorize low doses of its vaccine for children between six months and five years of age.

Moderna preps to seek shot approval for young kids

Day of Mourning commemorates fallen workers

Today over a dozen ceremonies resumed in person, after holding virtual ceremonies for the past two years due to the COVID-19 pandemic. The Vancouver ceremony is at Jack Poole Plaza starting at 10:30 a.m. and is jointly hosted by the B.C. Federation of Labour, the Business Council of British Columbia, Vancouver & District Labour Council, and WorkSafeBC.

Day of Mourning commemorates fallen workers

One man dead following police-involved shooting

Vancouver police say they were responding to an alleged assault inside an apartment near Commercial Drive and Fifth Avenue. There was an exchange of gunfire with a man in his 40s and Const. Tania Visintin says the man died.