Telus Corp has agreed to buy LifeWorks Inc.

On Thursday, Canadian wireless carrier Telus Corp agreed to buy LifeWorks Inc in a deal worth $2.24 billion Canadian dollars ($2.24 billion).

LifeWorks shareholders will have the option of receiving C$33.00 per share in cash, or 1.06 Telus shares, per share held, or a combination of the two.

The offer is about 81% higher than LifeWorks’s closing price on Wednesday, while the equity value of the deal is $2.3 billion, according to Reuters calculations.

LifeWorks will merge with Telus Health after the agreement closes. (1 dollar = 1.2938 Canadian dollars)

(Reporting by Nivedita Balu and Eva Mathews in Bengaluru; Editing by Aditya Soni)

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