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☆ 10 of our stocks report earnings next week. Here's what we want to see from each
▼ + stars: | 2024-01-27 | by ( Zev Fima | ) www.cnbc.com time to read: +16 min

All three major averages posted gains for the third consecutive week, lifted by solid quarterly earnings and positive economic data. Earnings season ramps up next week, with five of the Super Six mega-cap stocks delivering results. Employment numbers are the most important economic data, with Friday's January nonfarm payrolls report carrying the most weight. The January ISM Manufacturing report on Thursday and December's factory orders report Friday are expected to show the sector still in contraction mode. But earnings and commentary this week from peer Sartorious made us encouraged about a return to growth in 2024.

Persons: nonfarm, December's, Sartorious, We've, Stanley Black, Decker, We're, We'd, Royal Philips, Crane, Woodward, ServisFirst, Cadence Bancorporation, CADE, Johnson, Phillips, Avery Dennison, Columbus McKinnon, Robinson, SIRI, Cardinal Health, Parker, DOV, Pitney Bowes, Ferrari N.V, CSW, COLM, W.W, Grainger, Dwight Co, Jim Cramer's, Jim Cramer, Jim, Tim Cook, Justin Sullivan Organizations: Gross, Procter, Gamble, Gillette, Super, Consumer, JPM Healthcare, Amazon, Microsoft, Honeywell, Aerospace, Solutions, Apple Watch, Masimo, Vision Pro, Franklin Resources, Resource Partners, Bank of Marin Bancorp, Bank7 Corp, Pacific Premier Bancorp Inc, Provident Financial Holdings, Dynex, Cliffs Inc, Nucor Corp, Whirlpool Corp, F5 Networks, Capital Southwest Corp, Harbors Investment Corp, Crane Co, Payne, Equity, Heartland Financial, Cadence, FinWise Bancorp, Five Star Bancorp, PotlatchDeltic Corporation, Sanmina Corporation, Pfizer, General Motors Corp, United Parcel Service, JetBlue Airways Corporation, Smith Corp, Marathon Petroleum Corp, HCA Healthcare, Oshkosh Corporation, SYSCO Corp, Danaher Corp, Johnson Controls, M.D.C . Holdings, Commvault Systems Inc, Hope Bancorp, Hubbell Incorporated, Malibu Boats, Polaris Industries, Inc, Camden National Corp, Cambridge Bancorp, Microsoft Corp, Starbucks Corp, Devices, Electronic Arts Inc, Juniper Networks, Stryker Corp, Lending, Canadian, Canadian Pacific Kansas City Limited, Mondelez, Chubb Corporation, Modine Manufacturing, Partners, Management, Hawaiian Holdings, Manhattan Associates, Unum Group, UNM, Axos, Enova, Boston Properties, Boeing Co, Novo Nordisk, Mastercard Inc, Roper Technologies, Boston Scientific Corporation, MarketAxess Holdings, Fisher, Aptiv PLC, Hess Corp, Nasdaq, United Microelectronics Corp, Rockwell Automation, Teva Pharmaceutical Industries, Ltd, Avery, Avery Dennison Corp, Extreme Networks, Otis Worldwide Corporation, OTIS, Columbus, Columbus McKinnon Corp, Central Pacific Financial Corp, Brinker International, Fortive Corporation, Qualcomm, Technology, Metlife, Hanover Insurance, Barn Holdings, CONMED Corporation, DLH Holdings Corp, Meritage Homes Corporation, Honeywell International, Eaton Corp, Altria, Royal Caribbean Cruises Ltd, Merck, Co, Enterprise Products Partners, Dorian LPG, SiriusXM Holdings, Cardinal, Hannifin Corporation, Allegheny Technologies Incorporated, Tractor Supply Company, Trane Technologies, Dover Corp, Huntington Ingalls Industries, Brunswick Corporation, Dickinson, Canada Goose Holdings, Kirby Corp, WEC Energy Group, WestRock Company, Allegro MicroSystems, Ball Corporation, Broadridge Financial, BrightSphere Investment Group, CMS Energy Corp, Lancaster Colony Corp, Rogers Communications Inc, Sanofi, Apple, Atlassian Corporation, United States Steel Corp, Corp, Adtalem Global, Homes, DXC Technology Company, Eastman Chemical Company, Gen, Post Holdings, America, Columbia Sportswear Company, Exxon Mobil Corp, Chevron Corporation, Myers Squibb Co, CIGNA Corp, Regeneron Pharmaceuticals, Charter Communications, AON, Cboe, Dwight, Banco Santander, Jim Cramer's Charitable, CNBC, Apple Vision, Getty Locations: China, East, United States, Europe, Cleveland, Alexandria, California, Corning, Canadian Pacific, Teradyne, TER, Novo, Hanover, PBI, Skechers U.S.A, Bristol, Chile

TORONTO, Sept 18 (Reuters) - Canada's plan to bring down food prices by tightening regulation could backfire and fail, raising the cost of doing business in the country without providing relief to consumers, lawyers and economists said. Canada's weak competition law has been long blamed for allowing a few players to dominate industries ranging from banks to telecoms and groceries. The proposed amendment will drop the so-called efficiencies defense provision, giving Canada's antitrust regulator - the Competition Bureau - the power to block deals it deems as increasing market concentration, irrespective of any cost efficiencies. Trudeau's move comes as many Canadians reel under an affordability crisis with food prices jumping 25% since the start of the COVID-19 pandemic in 2020. Food inflation stood at around 35% in Germany and the United Kingdom - well above the 25% level of food inflation in Canada since the start of the pandemic, Scotiabank research showed.

Persons: Justin Trudeau, Pierre Poilievre, Omar Wakil, Torys, Wakil, Derek Holt, Denny Thomas, Deepa Babington Organizations: Competition, Liberal, Conservative, Loblaw Co, Co, Metro Inc, Scotiabank, Antitrust, Rogers Communications, Shaw Communications, Thomson Locations: Canada, Ukraine, Germany, United Kingdom

☆ Canada's competition bureau ordered to pay nearly $10 mln to Rogers, Shaw
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +1 min

The Rogers Building, the green-topped corporate campus of Canadian media conglomerate Rogers Communications is seen in downtown Toronto, Ontario, Canada July 9, 2022. REUTERS/Chris Helgren/File Photo Acquire Licensing RightsCompanies Rogers Communications Inc FollowAug 29 (Reuters) - Canada's merger court asked the competition bureau to pay about C$13 million ($9.58 million) to Rogers Communications (RCIb.TO) and Shaw Communications for the lengthy court battle after its failed attempt to block the telecom firms' C$20-billion merger. The Competition Tribunal, Canada's merger court, in a ruling dated Aug. 28 said the Commissioner of Competition Matthew Boswell's approach to block the deal was "unreasonable". The Rogers-Shaw merger had faced intense opposition from Canada's antitrust regulator whose efforts to block it were rejected by the Competition Tribunal and a Canadian court. In March, Canada approved Rogers' buyout of Shaw Communications after securing binding commitments to pay financial penalties if it failed to create new jobs and invest to expand its network.

Persons: Chris Helgren, Matthew Boswell's, Boswell, Rogers, Shaw, Nilutpal Timsina, Sherry Jacob, Phillips Organizations: Rogers, Rogers Communications, REUTERS, Shaw Communications, Competition, Thomson Locations: Toronto, Ontario, Canada, Bengaluru

☆ Canada's Rogers beats profit estimates on wireless business strength
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +1 min

April 26 (Reuters) - Rogers Communications Inc (RCIb.TO), reported a better-than-expected quarterly profit on Wednesday, as gains in its wireless business helped offset weakness in its cable TV unit. The telecom giant's wireless revenue grew 10% in the first quarter. Rogers blamed increased competitive promotional activity and a decline in video and home phone revenue for the shortfall. In the three months ended March 31, Rogers added 95,000 monthly bill paying wireless phone subscribers, compared with 193,000 in the previous quarter. The Toronto Blue Jays owner is also seeing its media business recover from the effects of the pandemic.

☆ Canada's Rogers misses quarterly revenue estimates on cable weakness
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +1 min

April 26 (Reuters) - Rogers Communications Inc (RCIb.TO), missed Wall Street estimates for first-quarter revenue on Wednesday, hit by weakness in its cable business and stiff competition. The company added 95,000 monthly bill paying wireless phone subscribers in the quarter, compared with 193,000 in the previous quarter. The company's total revenue rose to C$3.84 billion ($2.82 billion) in the first quarter ended March 31, compared with C$3.62 billion a year earlier. Revenue in Rogers' cable business fell 2% in the quarter. Net income rose to C$511 million, or C$1 per share, from C$392 million, or 77 Canadian cents per share, a year earlier.

☆ Canada's wireless giant Rogers misses quarterly revenue estimates
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: 1 min

April 26 (Reuters) - Rogers Communications Inc (RCIb.TO), missed Wall Street estimates for first-quarter revenue on Wednesday, hit by slower growth in the Canadian telecom giant's wireless and media businesses. The company's total revenue rose to C$3.84 billion ($2.82 billion) in the first quarter ended March 31, compared with C$3.62 billion a year earlier. Analysts were expecting revenue of C$3.93 billion, according to Refinitiv data. ($1 = 1.3628 Canadian dollars)Reporting by Eva Mathews in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

[1/2] Ethernet cables are seen in front of Rogers and Shaw Communications logos in this illustration taken, July 8, 2022. Rogers' deal for Shaw was politically sensitive due to the sky-high wireless bills Canadians pay, which are among the highest in the world. Yet, the competition bureau failed to block the merger, losing their protracted battle when a federal court dismissed the case. Now, dealmakers worry the government could intervene in other politically sensitive M&A. "There are not a lot of things people in competition law disagree on.

☆ TSX pads quarterly gain as interest rate concerns ease
▼ + stars: | 2023-03-31 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) ended up 158.90 points, or 0.8%, at 20,099.89, its highest closing level since March 8. For the month, the TSX lost 0.6% as global banking turmoil led to a selloff in heavily-weighted financials and volatility in the price of oil. It was up 3.7% in the first quarter of the year but trailing a gain of 7% for U.S. benchmark the S&P 500. It was up 2.4%, helped by a 14.4% jump in the shares of Blackberry Ltd <BB.TO> after the company reported quarterly results. Shares of Shaw rose 3.3%, while Rogers was down 2.9%.

☆ Timeline: Canada gives final nod on C$20 bln Rogers-Shaw merger
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: 1 min

March 31 (Reuters) - Canada on Friday gave the final approval for Rogers Communications Inc's (RCIb.TO) C$20 billion ($15 billion) buyout of Shaw Communications Inc (SJRb.TO), clearing the deal that will create the country's No. 2 telecoms company. The green light came as Minister of Innovation, Science and Industry Francois-Philippe Champagne agreed to the transfer of wireless licenses held by Shaw's Freedom Mobile unit to Quebecor Inc (QBRb.TO) under some conditions. Here is the snapshot of key events in Rogers-Shaw merger:Reporting by Yuvraj Malik, Aditya Soni, Tiyashi Datta and Ananya Mariam Rajesh in Bengaluru; Editing by Sriraj Kalluvila and Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

☆ Canada's decision on Rogers-Shaw deal may come on Friday -source
▼ + stars: | 2023-03-31 | by ( Reuters Staff | ) www.reuters.com time to read: +2 min

(Reuters) -The Canadian government is set to announce on Friday a decision on Rogers Communications Inc’s C$20 billion ($15 billion) bid for Shaw Communications Inc, a person familiar with the matter told Reuters on Thursday. FILE PHOTO: Ethernet cables are seen in front of Rogers and Shaw Communications logos in this illustration taken, July 8, 2022. The announcement is about the government’s decision on whether to allow the transfer of Shaw’s wireless licences to Quebecor Inc’s Videotron Ltd., which has agreed to acquire Shaw’s Freedom Mobile wireless carrier for C$2.85 billion, the source told Reuters. To address the issue, Rogers and Shaw agreed to sell Freedom Mobile to Quebecor, which is also expected to close by March 31. Rogers, Shaw and Quebecor did not immediately respond to a Reuters request for comment.

☆ Canada clears C$20 billion Rogers-Shaw deal to create No.2 telecom company
▼ + stars: | 2023-03-31 | by ( Reuters Staff | ) www.reuters.com time to read: +2 min

(Reuters) -Canada on Friday granted the final approval for Rogers Communications Inc’s C$20 billion ($15 billion) buyout of Shaw Communications Inc, clearing the deal that will create the country’s No. FILE PHOTO: Ethernet cables are seen in front of Rogers and Shaw Communications logos in this illustration taken, July 8, 2022. Freedom Mobile’s proposed C$2.85 billion sale to Quebecor-owned Videotron has been crucial in addressing the antitrust concerns over the deal, given the overlap between Rogers and Shaw’s wireless divisions. It is the biggest in the Canadian telecoms industry since BCE’s spinoff of its stake in Nortel Networks in a transaction valued at C$88.7 billion in 2000. Canada’s top telecom company by market value is BCE Inc.U.S.-listed shares of Shaw were up 3% in premarket trading.

☆ Canada clears C$20 billion Rogers-Shaw deal with tough conditions
▼ + stars: | 2023-03-31 | by ( Aditya Soni | Chavi Mehta | ) www.reuters.com time to read: +3 min

The deal was opposed by consumer advocates and politicians on worries it could lead to higher prices due to an overlap between Rogers and Shaw’s wireless divisions. Rogers made 21 conditions, including setting up a western headquarters in Calgary, creating 3,000 new jobs in Western Canada and investing C$5.5 billion to expand 5G coverage and services. If it breaches the commitments, Rogers will have to pay a fine of as much as C$1 billion, Champagne said at a news conference in Ottawa. And it’s subject to arbitration.”Champagne said if wireless prices do not go lower, he would seek further legislative and regulatory powers. The combined company will benefit from Rogers’ strong presence in urban Ontario and Shaw’s dominance in the sparsely populated regions of Western Canada.

☆ Canada's decision on Rogers-Shaw deal may come on Friday
▼ + stars: | 2023-03-31 | by ( Reuters Staff | ) www.reuters.com time to read: +1 min

(Reuters) - Canadian Minister of Innovation, Science and Industry Francois-Philippe Champagne is set to rule on Rogers Communications Inc’s C$20 billion ($15 billion) deal to buy Shaw Communications Inc on Friday, The Globe and Mail reported on Thursday, citing two sources. FILE PHOTO: Ethernet cables are seen in front of Rogers and Shaw Communications logos in this illustration taken, July 8, 2022. The announcement relates to the minister’s review of the takeover deal, The Globe and Mail reported. Both Rogers and Shaw did not immediately respond to a Reuters request for comment on the report. Champagne’s approval is needed to transfer spectrum licenses of Freedom Mobile unit to Quebecor’s Videotron.

The deal was opposed by consumer advocates and politicians on worries it could lead to higher prices due to an overlap between Rogers and Shaw's wireless divisions. Rogers reaffirmed its conditions, including setting up a western headquarters in Calgary, creating 3,000 new jobs in Western Canada and investing C$6.5 billion to upgrade connectivity. If it breaches the commitments, Rogers (RCIb.TO) will have to pay a fine of as much as C$1 billion, Champagne said at a news conference in Ottawa. Champagne said if wireless prices do not go lower, he would seek further legislative and regulatory powers. Rosa Addario, a spokesperson for internet advocacy group OpenMedia, said the concessions sought by the government were unlikely to result in lower prices.

☆ Factbox: Canada clears Rogers-Shaw deal but with conditions
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +2 min

March 31 (Reuters) - Canada on Friday granted the final approval for Rogers Communications Inc's (RCIb.TO) C$20 billion ($15 billion) buyout of Shaw Communications Inc (SJRb.TO), clearing the deal that will create the country's No. 2 telecoms company. Minister of Innovation, Science and Industry Francois-Philippe Champagne agreed to the transfer of wireless licenses held by Shaw's Freedom Mobile unit to Quebecor Inc's (QBRb.TO) Videotron under some conditions. CONDITIONS ACCEPTED BY ROGERS* Will have to create 3,000 new jobs in Western Canada and maintain them for a minimum of 10 years after the closing date* Invest at least C$2.5 billion to enhance its 5G network in Western Canada, and C$3 billion in additional network service expansion projects* Expand access to low-cost broadband internet plans and launch a new low-cost mobile offering for low-income Canadians* Invest C$1 billion to expand broadband internet access, at speeds of at least 50/10 megabits per second, and 5G mobile service in areas where it is not currently available* Establish a western headquarters in Calgary and maintain it for a minimum of 10 years after the closing date* To report to Innovation, Science and Economic Department and to the public every year on specific progress it has made towards commitments in the agreement* Will have to offer wireless plans to Shaw Mobile customers at Shaw's current prices for 5 years after deal close* To pay C$100 million for every year in which any "material element" of any commitment is not metCONDITIONS ACCEPTED BY VIDEOTRON* Will need to offer plans that are comparable to those currently available in Quebec, and offer options at least 20% cheaper than that of major players* Cannot transfer Freedom Mobile licenses for 10 years* Will have to expand its 5G wireless network in Freedom Mobile's pre-existing operating territory within 2 years* Will increase data allotments of existing Freedom Mobile customers by 10% as a near-term bonus, while investing to bring down prices overall* Will expand mobile service into the Canadian province of Manitoba via the use of a signed Mobile Virtual Network Operator (MVNO) agreement and offer plans comparable to what it offers in Quebec* To pay C$25 million for every year in which any "material element" of any commitment is not metCompiled by Eva Mathews in Bengaluru; Edited by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

☆ Canada set to approve Rogers takeover of Shaw with transfer -Globe and Mail
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +2 min

March 31 (Reuters) - Canada is set to approve on Friday a transfer of wireless licenses that will finally settle Rogers Communications Inc's (RCIb.TO) C$20 billion ($15 billion) bid for Shaw Communications Inc (SJRb.TO), the Globe and Mail reported. Rogers and Shaw agreed to sell Freedom Mobile to Quebecor for C$2.85 billion to win government approval for the merger. The minister will approve the transfer of Shaw's licenses to Quebecor's Videotron Ltd with a number of conditions attached, as well as financial penalties associated with breaking those conditions, the Globe and Mail said. The sale of Freedom Mobile to Quebecor is expected to close by March 31. Rogers in February extended the deadline for the deal to March 31 for the fourth time, as the companies awaited the final nod from Champagne.

☆ Canada's Champagne unveils CRTC direction as Rogers-Shaw deal nears final nod
▼ + stars: | 2023-02-13 | by ( ) www.reuters.com time to read: +1 min

Feb 13 (Reuters) - Canadian Industry Minister François-Philippe Champagne said on Monday the country's broadcast and telecommunications regulator would focus on improving competition, affordability and consumer rights as part of a new policy direction. Other objectives in the policy direction to Canadian Radio-television and Telecommunications Commission (CRTC) included speeding up new infrastructure for better consumer access and improving service reliability, said Champagne, the Minister of Innovation, Science and Industry. Champagne has previously indicated support for the Rogers-Shaw deal if certain conditions were met. In January, the companies cleared a major hurdle after the Canada Competition Bureau dropped plans to oppose the deal following two defeats in courts. ($1 = 1.3337 Canadian dollars)Reporting by Manya Saini in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Still, hedge funds piled into Shaw, betting the deal would go ahead. But now, together, the 12 hedge fund firms have made hundreds of millions over the nearly two-year period between Mar. POPULAR TRADEThe 12 hedge fund firms together owned 7.05% of Shaw's shares, or 33.6 million shares, according to Refinitiv Eikon data. Millennium, for example, is a multi-strategy firm - meaning it operates different hedge fund strategies. If the competition bureau had prevailed, analysts had predicted Shaw shares would have dropped to the pre-bid level of C$23, pointing to steep losses for the hedge funds.

☆ Rogers' bid for Shaw boosted after court rejects antitrust effort to block deal
▼ + stars: | 2023-01-25 | by ( Maiya Keidan | ) www.reuters.com time to read: +3 min

TORONTO, Jan 24 (Reuters) - A Canadian court on Tuesday dismissed the competition bureau's effort to overturn an approval of Rogers Communications Inc's (RCIb.TO) C$20 billion ($14.9 billion) bid to buy Shaw Communications Inc (SJRb.TO). Rogers and Shaw shares extended gains on the decision, and both closed about 3% higher, while the benchmark Canadian share index (.GSPTSE) was flat. The Federal Court of Appeal in Ottawa swiftly dismissed the antitrust regulator's appeal to overturn a Dec. 30 decision by the Competition Tribunal to approve the deal. Justice David Stratas told the court that many of the points of law the antitrust agency had raised were "without merit." Shaw, Rogers and Quebecor said in a joint statement on Tuesday that "we welcome this clear, unequivocal, and unanimous decision by the Federal Court of Appeal."

☆ Rogers-Shaw on cusp of final nod for protracted C$20 bln deal
▼ + stars: | 2023-01-25 | by ( Maiya Keidan | ) www.reuters.com time to read: +2 min

The bureau late on Tuesday accepted the verdict of the Federal Court of Appeal (FCA) and said it would not pursue an appeal. Its decision is widely seen as paving the way for the C$20 billion ($14.98 billion) transaction to clear ahead of its Jan. 31 deadline. It now awaits final clearance from Industry Minister François-Philippe Champagne, who has previously expressed support for the transaction if certain conditions are met. The House of Commons industry committee in March said the deal should not proceed, though, its recommendations are non-binding. Rogers-Shaw have agreed to sell Freedom Mobile, a wireless business owned by Shaw, to Quebecor Inc (QBRb.TO) in order to alleviate competition concern.

☆ Rogers-Shaw on cusp of final nod for protracted C$20 bln deal, shares rise
▼ + stars: | 2023-01-25 | by ( Maiya Keidan | ) www.reuters.com time to read: +3 min

Its decision is widely seen as paving the way for the C$20 billion ($14.98 billion) transaction to clear ahead of its Jan. 31 deadline. It now awaits final clearance from Industry Minister François-Philippe Champagne, who will be considering the transfer of Freedom Mobile Inc's spectrum license to Quebecor Inc's Videotron unit. "This is essentially a done deal, barring any surprises from Minister Champagne," Aaron Glick, analyst with New York-based investment firm Cowen, told Reuters. The House of Commons industry committee in March said the deal should not proceed, although its recommendations are non-binding. Rogers-Shaw have agreed to sell Freedom Mobile, a wireless business owned by Shaw, to Quebecor Inc (QBRb.TO) in order to alleviate competition concern.

☆ Toronto market ends slightly down as Magna slides
▼ + stars: | 2023-01-24 | by ( Fergal Smith | ) www.reuters.com time to read: +2 min

The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) ended down 2.03 points at 20,629.55, after posting on Monday its highest closing level in more than seven months. The U.S. benchmark index S&P 500 also ended slightly lower. "The issue for 2023 is going to be watching the lagged effects of the interest rate hikes that occurred last year," said Brian Madden, chief investment officer at First Avenue Investment Counsel in Toronto. Investors worry that aggressive interest rate hikes could trigger a recession, with data on Tuesday showing that U.S. business activity contracted for the seventh consecutive month in January. The Bank of Canada will hike its key interest rate by a quarter of a percentage point to 4.5% on Wednesday and then hit pause on its tightening campaign, a Reuters poll of economists showed.

☆ Rogers' bid for Shaw gets boost after court rejects antitrust effort to block deal
▼ + stars: | 2023-01-24 | by ( Maiya Keidan | ) www.reuters.com time to read: +3 min

TORONTO, Jan 24 (Reuters) - A Canadian court on Tuesday dismissed the competition bureau's effort to block Rogers Communications Inc's (RCIb.TO) C$20 billion ($14.9 billion) bid to buy Shaw Communications Inc (SJRb.TO), in a boost to the companies' efforts to close a deal struck nearly two years ago. Shaw and Rogers intend to finalize the deal by Jan. 31, though the deadline can be extended in agreement with Quebecor. Judges spent the morning grilling competition bureau counsel on their case against the transaction and delivered their verdict in the afternoon without hearing from Rogers and Shaw. The bureau previously failed to convince the competition tribunal, a quasi-court that handles merger disputes, that the deal is harmful for Canadian consumers. Canada's Competition bureau, Rogers Communications and Shaw Communications did not immediately respond to a Reuters request for comment.

☆ Canada judge calls into question regulator's argument to block Rogers-Shaw deal
▼ + stars: | 2023-01-24 | by ( Maiya Keidan | ) www.reuters.com time to read: +4 min

TORONTO, Jan 24 (Reuters) - A Canada federal judge called into question the competition bureau's argument to block Rogers Communications Inc's (RCIb.TO) C$20 billion ($14.9 billion) bid for Shaw Communications Inc (SJRb.TO) as the court hearing kicked off on Tuesday. But the bureau failed to convince the competition tribunal, a quasi court that handles merger disputes, that the deal is harmful for Canadian consumers. "According to the tribunal, this was not a particularly close case," the judge told the court on Tuesday. "I think the appeal is going to be dismissed," said Michael Osborne, a competition lawyer at law firm Cozen O'Connor. A spokesperson for the competition bureau declined to comment while the matter was before the court.

☆ Rogers-Shaw, Canada regulator to duke it out in federal court over C$20 bln bid
▼ + stars: | 2023-01-24 | by ( ) www.reuters.com time to read: +3 min

But the bureau failed to convince the competition tribunal, a quasi court that handles merger disputes, that the deal is harmful for Canadian consumers. Rogers offered to sell Shaw's Freedom Mobile unit to Quebecor's (QBRb.TO) Videotron for C$2.85 billion to address anti-competition concerns, but the competition bureau argued that a merged Rogers-Shaw would not have a viable competitor in Quebecor. "I think the appeal is going to be dismissed," said Michael Osborne, a competition lawyer at law firm Cozen O'Connor. For that reason, I think the Court of Appeal will make sure to do it in time for the parties to close." A spokesperson for the competition bureau declined to comment while the matter was before the court.

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