On June 16, 2022, LifeWorks Inc. announced it has agreed to be acquired by TELUS Corporation in a C$2.9 billion deal, inclusive of net debt. Under the arrangement, LifeWorks shareholders can opt for C$33.00 per share in cash, 1.0642 TELUS shares per LifeWorks share, or a combination of both. The deal, which is a premium of 80% to 89% over the recent closing prices of LifeWorks shares, will be executed via a court-approved plan of arrangement, requiring 66 2/3% shareholder approval, among other customary conditions. Stephen Liptrap highlighted the deal as a new chapter, uniting LifeWorks with TELUS Health to lead in digital healthcare and wellness. TELUS CEO Darren Entwistle emphasized the benefits of the merger, which would expand their digital-first health platform to over 50 million lives, integrating TELUS International's capabilities. The LifeWorks Board, after the Special Committee's recommendation, approved the agreement as in the company's best interests. Financial advisement was provided by BMO Capital Markets and Goldman Sachs Canada Inc., with fairness opinions affirming the deal's equity to shareholders. Osler, Hoskin & Harcourt LLP served as legal counsel to LifeWorks. TELUS' financial advisor was CIBC World Markets, with Stikeman Elliott LLP and Clifford Chance LLP handling legal aspects.