Political optics is likely a factor Canada’s industry minister is considering as he mulls whether to approve Rogers Communications Inc.’s $20-billion acquisition of Shaw Communications Inc., according to an expert in business mergers.
The historic, drawn-out deal between the two telecommunications rivals has cleared its biggest legal hurdles, but the sale’s closing date has been extended multiple times, now to March 31, as it awaits final approval from Industry Minister François-Philippe Champagne.
“He doesn't want to look like he's being easy on big and he wants to make sure that the public realizes that he's taking his time.” In rejecting Boswell’s arguments, Federal Court Chief Justice Paul Crampton wrote in December that the sale is not likely to substantially lessen competition, result in “materially higher prices” or lead to other service impacts.
Glick said details about such business transactions can usually be finalized after closing, but in this high-profile case Champagne probably wants to iron out the fine print about how the conditions of the agreement will be enforced.
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