|Bid||28.33 x 50000|
|Ask||28.61 x 50000|
|Day's range||28.33 - 28.62|
|52-week range||23.71 - 28.62|
|Beta (5Y monthly)||0.54|
|PE ratio (TTM)||22.90|
|Earnings date||30 Jun 2022|
|Forward dividend & yield||0.87 (3.12%)|
|Ex-dividend date||14 Jul 2022|
|1y target est||N/A|
Rogers Communications Inc, Shaw Communications Inc and Canada's competition bureau have agreed to start a mediation process to overcome the agency's antitrust issues posed by Rogers' C$20 billion ($15.5 billion) acquisition of Shaw, the competition tribunal said on Friday. The move follows weeks of back and forth between the parties after the antitrust agency blocked Rogers' bid, saying the deal will reduce competition in Canada's concentrated telecoms industry and push up wireless bills.
Canada's competition bureau is expected to ask Rogers Communications Inc to sell Shaw Communications Inc's cellular business to overcome antitrust concerns presented by Rogers' C$20 billion ($15.4 billion) acquisition of Shaw, two sources familiar with the matter told Reuters on Thursday. Canada's competition bureau has blocked Rogers' proposed purchase of Shaw on the grounds that the deal will lessen competition in the telecom sector, leading to increased mobile bills for consumers. As part of the merger remedy, Rogers-Shaw last week agreed to sell Freedom Mobile, the cellular business owned by Shaw, to Montreal-based Quebecor Inc for C$2.85 billion.
Shaw (SJR) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).