Shaw Jumps as Minister’s Comments Boost Odds of Rogers Deal (1)

Shaw Communications Inc. rose 7% to the highest level since July after a government minister in Canada clarified the regulatory conditions on its deal with Rogers Communications Inc., improving the odds that the transaction will close.

Shaw shares closed at C$36.52, about 10% below the Rogers takeover offer of C$40.50. Rogers was up nearly 6%.

Toronto-based Rogers agreed to pay C$20 billion ($14.8 billion) for its rival in March 2021, but the deal has been delayed by Canada’s antitrust regulator, which says it will weaken competition in the wireless sector. The two companies have agreed to sell most ...