Telus to Acquire Clearnet
Updated from 11:16 a.m. EDT
Moving to form the biggest wireless player in Canada, telecommunications company Telus said Monday that it would acquire Clearnet Communications (CLNT) in deal valued at $3.1 billion.
Telus of Western Canada has offered to exchange about $47.62 in cash or 1.636 Telus non-voting shares for each Clearnet share and assume $1.4 billion in Clearnet debt. Those figures are based on a currency exchange rate of 1.47 Canadian dollars per U.S. dollar.
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