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

Woman sentenced for fatal stabbing outside mall

The 33-year-old mother of four lay on the sidewalk outside Prince Albert’s Gateway Mall for more than an hour before 911 was called. Video footage presented in court showed a dozen people passed by, and she was robbed of her purse and headphones.

Woman sentenced for fatal stabbing outside mall

No more decals: ICBC

Importantly, everyone will need to continue to keep their insurance documents in their vehicle at all times. You'll be able to print these out at home, request a copy by mail or visit a broker office to receive a copy.

No more decals: ICBC

VPD seeks suspects in take-over robbery at Gucci store

The security footage shows two masked men entering a Gucci store on Dec. 9. They deploy bear spray in the face of a staff member before grabbing what police say was about $20,000 in merchandise off the shelves.

VPD seeks suspects in take-over robbery at Gucci store

Tories want RCMP to reopen Trudeau investigation

The federal ethics commissioner investigated the trips and in 2017 ruled his acceptance of gifts breached conflict of interest rules because the Aga Khan was the founder of a charity that had received federal money.

Tories want RCMP to reopen Trudeau investigation

Seniors among fastest-growing age groups in Canada

The latest census data from 2021 shows that since 2016, the number of people aged 85 and older grew by 12 per cent — more than twice as high as the overall growth of the Canadian population at 5.2 per cent.

Seniors among fastest-growing age groups in Canada

Census shows condo boom but BC still lacks supply

There are 866,340 single-detached homes in B.C., representing 42.4 per cent of the housing distribution and an increase of 1.7 per cent since the last census in 2016.