Rogers Eyes Rogers Wireless Swap

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Rogers Communications Inc. said Thursday that it wants to launch an exchange offer for all of the outstanding shares of Rogers Wireless Communications Inc. owned by the public, AP reported.

Under the Canadian MSO’s plan, it would exchange 1.75 Rogers Communications class-B nonvoting shares for each Rogers Wireless class-B share held, according to AP.

Rogers Communications currently owns a roughly 89% equity interest and 98% voting interest in Rogers Wireless, AP reported.

The proposed exchange offer implies a value for Rogers Wireless shares of $41.91, or a premium of about 16% to Rogers Wireless’ closing price Wednesday, according to AP.

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