Advisory firms recommend shareholders vote in favour
CALGARY — Shaw Communications announced today two independent proxy advisory firms, Institutional Shareholder Services Inc. (ISS) and Glass, Lewis and Co., have recommended that Shaw’s shareholders vote for the proposed business merger with Rogers Communications announced in March.
The proposed $26-billion purchase deal would see Rogers acquire all of Shaw’s issued and outstanding Class A participating shares and Class B non-voting participating shares.
Shaw says a special shareholder meeting will be held virtually on May 20 at 10 a.m. MT. The purpose of the meeting is for Class A and B shareholders to consider and vote on a resolution approving the transaction arrangement. The proxy vote deadline is 10 a.m. MT on May 18.
Shaw’s board of directors has already recommended shareholders vote in favour of the deal. Shaw’s board, senior management and Shaw family shareholders have also already agreed to vote in favour of the arrangement.
Even if the deal receives shareholder approval, it still requires regulatory approval from the CRTC, Competition Bureau and ISED Canada.
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