TELUS Digital Sold to TELUS Corporation, Completing Privatization

Paul, Weiss advised TELUS Digital, a Canadian technology company, on the sale to TELUS Corporation (TELUS) of all outstanding multiple and subordinate voting shares of TELUS Digital not already owned by TELUS, for $4.50 per share in cash and/or TELUS common shares, for a total transaction value of approximately $2.9 billion. Following close, TELUS now owns 100% of TELUS Digital, and TELUS Digital will be delisted from both the Toronto Stock Exchange and the New York Stock Exchange.

The agreement, overwhelmingly approved by TELUS Digital shareholders will allow for closer operational integration between leading communications technology company TELUS and TELUS Digital, enhancing AI and software-as-a-service transformation across telecommunications, health, agriculture and consumer goods sectors.

The Paul, Weiss team was led by corporate partners Ian Hazlett and Adam Givertz, and included partner Christopher Cummings, and counsel Steve Centa; tax partner Matthew Jordan; executive compensation partner Christopher Gonnella; and antitrust counsel Chad de Souza and John Magruder.