Rogers Communications Inc. has extended the deadline of its $26-billion proposed merger with Shaw Communications Inc. to Dec. 31 as the company’s second quarter profit jumps.
The deadline for the deal to close was previously extended to July 31.
On the company’s earnings call with analysts Wednesday, CEO Tony Staffieri said the decision to move the date reflects the commitment it and Shaw have to getting the deal done.
“We wanted to set a date that made it clear that we have that commitment,” he said.
Even though the telecom giant remains confident that the deal will close, especially with the additional time, it says it does have “strategies” available in the event that the transaction faces further hurdles….