On January 17, 2008, TELUS Corporation indirectly acquired under a take-over bid approximately 84,876,494 common shares of Emergis Inc., representing approximately 94% of the outstanding common shares of Emergis on a fully diluted basis, at a price of $8.25 in cash per share. The offer made by TELUS valued Emergis' equity at approximately $763 million on a fully diluted basis. TELUS, through its wholly-owned subsidiary, intends to exercise its statutory rights under the Canada Business Corporations Act to purchase all of the remaining shares by compulsory acquisition.
TELUS is a leading national telecommunications company in Canada. Emergis is an IT leader in Canada that focuses on the health and financial services sectors. It develops and manages solutions that automate transactions and the secure exchange of information to increase the process efficiency and quality of service of its customers.
The special committee of Emergis was represented by Fasken Martineau with a team that included Robert Paré, William K. Orr and Jean Michel Lapierre (corporate/securities).