Clifford Chance advising TELUS Corporation on tax and executive compensation aspects of its proposed acquisition of remaining shares of TELUS Digital

Global law firm Clifford Chance is advising TELUS Corporation on the tax and executive compensation aspects of its proposed acquisition of the remaining shares of TELUS Digital. The transaction values TELUS Digital’s equity at US$1.3 billion and provides aggregate consideration of US$539 million to minority shareholders.

TELUS Corp., TELUS Digital’s controlling shareholder, proposed on June 11 2025, to acquire all the shares of TELUS Digital it does not currently own at a price per share of US$4.50, which represents a 62.6% premium over the 30-day volume-weighted unaffected average price of TELUS Digital subordinate voting shares on the NYSE prior to June 12, 2025; an increase of 32.4% from TELUS’ initial proposal of US$3.40 per share; and a 16.0% premium over the closing price of TELUS Digital subordinate voting shares on the NYSE on August 29, 2025. Shareholders may elect to receive cash, shares of TELUS Corp. or a combination of cash and shares.

The transaction was led by partners Paul Seraganian, Head of the US Tax, Pensions and Employment group, and Reuven Falik, Co-Chair of the US Executive Compensation practice, counsel Meghan Fox and associate Rick Thoben.