Rogers-Shaw Merger Conditions Include Up to C$1 Billion Penalty

Rogers Communications Inc. could face a total penalty of C$1 billion ($739 million) over the next decade if it doesn’t meet government conditions underpinning its takeover of Shaw Communications Inc.

Canadian Industry Minister Francois-Philippe Champagne published the agreement Friday, calling it “an unprecedented and legally enforceable set of commitments.”

The document says Rogers will be fined as much as C$100 million per year if the industry minister concludes “any material element” of any of the commitments made by the company are not met. The exception would be a force majeure event, such as floods, earthquakes, labor disruptions or an epidemic. ...