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4-Traders Homepage  >  Equities  >  Toronto Stock Exchange  >  TELUS Corporation    T   CA87971M1032

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TELUS Corporation : Mason Capital Comments on TELUS Press Release Regarding ISS and Glass Lewis Reports

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04/24/2012 | 10:30pm CEST

Mason Capital Management LLC ("Mason") today issued the following statement in response to the press release issued today by TELUS Corporation (TSX:T; TSX:T.A; NYSE: TU) regarding the reports issued on April 23, 2012, by Institutional Shareholder Services ("ISS") and Glass Lewis & Co. ("Glass Lewis") regarding the proposal by TELUS to convert all of its non-voting shares into voting shares on a one-to-one basis:

"TELUS' claims of ISS and Glass Lewis support are premature. ISS and Glass Lewis did not have the benefit of the reasons for voting against TELUS' proposed share reorganization, which Mason publicly announced yesterday. Glass Lewis has retracted their report and ISS will review our analysis and rationale and update their recommendation accordingly. In addition, TELUS' announcement that it is now offering cash for retail shareholder votes in favor of their plan only demonstrates that the right to vote has real value."

Mason Capital is a New York based investment fund with offices in New York, London and San Francisco and has been in business since 2000. Mason Capital has a long history of investing in Canada. It is the largest shareholder and is represented on the board of directors of ATS Automation Tooling Systems, a TSX-listed company.

Sard Verbinnen & Co
Jonathan Gasthalter/Dan Gagnier/Brooke Gordon
+1-212-687 8080


© Business Wire 2012
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Financials ( CAD)
Sales 2016 12 822 M
EBIT 2016 2 520 M
Net income 2016 1 500 M
Debt 2016 12 025 M
Yield 2016 4,18%
P/E ratio 2016 17,57
P/E ratio 2017 16,19
EV / Sales 2016 2,97x
EV / Sales 2017 2,91x
Capitalization 26 017 M
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Mean consensus HOLD
Number of Analysts 23
Average target price 42,7  CAD
Spread / Average Target -2,6%
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Managers
NameTitle
Darren Entwistle President, Chief Executive Officer & Director
Richard H. Auchinleck Independent Chairman
Doug French Chief Financial Officer & Executive Vice President
Micheline Bouchard Independent Director
John Stewart Lacey Independent Director
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