TORONTO-Canadian wireless operator Rogers Wireless Inc. said it has mailed offering documents to Microcell Telecommunications Inc. security holders in connection with Rogers’ $1.1 billion all-cash offer for its smaller rival. Rogers said the offer will be open for acceptance until Nov. 5, unless extended or withdrawn.
Concurrently, Microcell announced the mailing of the Directors’ Circular to its shareholders detailing recommendations from its board of directors that shareholders accept Rogers’ bid.
Microcell’s board had previously recommended that the company’s shareholders refuse an $800 million offer from Telus Corp. that Telus said has garnered 837 Class A restricted voting shares, 172,311 Class B non-voting shares, 91,166 Warrants 2005 and 91,398 Warrants 2008 as of Sept. 20.
