HomeHealthTelus Corp has agreed to buy LifeWorks Inc.

Telus Corp has agreed to buy LifeWorks Inc.


Canadian wireless carrier Telus Corp has agreed to buy LifeWorks Inc in a C$2.9 billion ($2.24 billion) deal, the companies said on Thursday, looking to tap into the employer-focused healthcare market.


LifeWorks shareholders will have the option to receive C$33.00 per share in cash, or 1.06 Telus shares, for each share held, or a mix of both.


The offer represents a premium of about 81% to LifeWorks stock’s Wednesday closing price, while the equity value of the deal is C$2.3 billion, according to Reuters calculations.


LifeWorks will combine with Telus Health once the deal closes. ($1 = 1.2938 Canadian dollars)


(Reporting by Nivedita Balu and Eva Mathews in Bengaluru; Editing by Aditya Soni)

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