Telus makes key purchase

Article Excerpt

TELUS, $22.43, is a buy. The company (Toronto symbol T; Shares outstanding: 1.5 billion; Market cap: $34.2 billion; TSINetwork Rating: Above Average; Dividend yield: 7.2%; www.telus.com) is Canada’s largest wireless carrier. It also sells landline phone, Internet and TV services in B.C., Alberta and eastern Quebec. The company, through its Telus Health division, is now buying Workplace Options. That firm, based in North Carolina, helps businesses create and manage employee healthcare plans. It currently serves 127,000 organizations in more than 200 countries and territories. Telus will pay $350 million U.S. when it completes the transaction in the next few weeks. Healthcare-focused private equity firm GTCR will also invest $200 million U.S. as part of the acquisition. Notably, that establishes GTCR as a strategic partner to support Telus Health’s growth plans. Telus Corp. is a buy buy…