TORONTO – After the shareholders and the Competition Bureau approved, all that was left was today’s Ontario Court ruling on Rogers Communications’ purchase of Call-Net Enterprises.
Call-Net received the final order from the Ontario Superior Court of Justice this morning relating to the plan of arrangement through which RCI will acquire all of the outstanding common shares and class B non-voting shares of Call-Net on the basis of one RCI class B non-voting share for every 4.25 Call-Net shares.
When the deal was announced last month, it was valued at $330 million.
The acquisition of Call-Net by RCI is expected to become effective tomorrow, July 1, 2005, the same say RCI will drop the Sprint name for telephony customers across the country in favor of Rogers.
