07:20 AM EDT, 06/12/2025 (MT Newswires) -- Telus ( TU ) said Thursday that it has submitted a proposal to Telus Digital to acquire the company for US$3.40 per share in cash, or Telus ( TU ) shares, or a combination of both.

Telus ( TU ) requested that the Telus Digital board review the proposal and appoint a special committee.

The proposed price is a 15% premium to Telus Digital's closing share price on the New York Stock Exchange (NYSE) on June 11, and a premium of 23% over Telus Digital's 30-day volume weighted average trading price based on Canadian and U.S. composite exchanges.

Telus ( TU ) currently owns 86.9% of the combined voting power of all outstanding shares. In 2021, Telus Digital was spun out through an initial public offering, with Telus ( TU ) retaining a large majority of the shares.

Telus Digital closed up US$0.07 at US$2.96 on the New York Stock Exchange. Its shares closed up $0.08, to $4.05 on the Toronto Stock Exchange.