Corus calls shareholder’s claims about Shaw deal ‘deeply misleading’




By James Bradshaw
Published Tuesday, Feb. 23, 2016

Two weeks before a crucial shareholder vote, Corus Entertainment Inc. is seeking to squash concerns raised by a minority investor over its proposed $2.65-billion acquisition of Shaw Media, calling claims made in a recent media report “deeply misleading.”

The shareholder, Catalyst Capital Group Inc., highlighted what it describes as “disclosure deficiencies” in the information Corus provided about the deal, which was announced in mid-January and is set to be voted on by minority shareholders on March 9. Catalyst concluded, based on its own analysis, that Corus is overpaying for Shaw’s media assets by an estimated $400-million to $600-million.

But in a statement released late Tuesday afternoon, Corus sought to “correct a number of misstatements and inaccuracies,” arguing the deal will give Corus more clout while delivering long-term value for shareholders.

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  1. They have a point. Bell paid 3.2 Billion for Astral and got way more in return than what Corus is being forced to buy from Shaw for 2.65b


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