11:33 AM EDT, 06/12/2025 (MT Newswires) -- Telus ( TU ) on Thursday said it has submitted a non-binding indication of interest to acquire all remaining shares of Telus Digital that it does not already own, offering US$3.40 per share. The transaction is subject to due diligence, negotiation of definitive agreements and regulatory and shareholder approvals. Telus ( TU ) already controls 87% of Telus Digital voting shares.

National Bank's Richard Tse writes that, while the valuation appears reasonable, "we don't think it's unreasonable to believe the proposed acquisition reflects continued challenges with Telus Digital's business." He also notes that a competitive bid seems remote, given the size of Telus' ( TU ) stake.

Tse has an Outperform rating and US$3.50 target on Telus Digital.

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