Telus to acquire full ownership of Telus Digital for $4.50 per share

TELUS (TU) and TELUS International (TIXT) announced that they have entered into a definitive agreement for TELUS to acquire all of the outstanding multiple voting shares and subordinate voting shares of TELUS Digital not already owned by TELUS for $4.50 per share, reflecting aggregate consideration of $539M. The transaction has received the unanimous recommendation of a special committee of independent members of the board of directors of TELUS Digital and the unanimous approval of TELUS Digital’s Board of Directors. If approved at the Special Meeting, subject to court approval, receipt of regulatory approval required under applicable foreign direct investment laws and other customary closing conditions, the transaction is expected to close in the fourth quarter of 2025. Following closing, TELUS Digital subordinate voting shares will be delisted from the NYSE and the Toronto Stock Exchange and it will cease to be a reporting issuer in all provinces and territories of Canada.