Canada's Telus eyes healthcare push with C$2.9 billion LifeWorks deal

(Reuters) - Canadian wireless carrier Telus Corp has agreed to buy LifeWorks Inc in a C$2.9 billion ($2.24 billion) deal, the companies said on Thursday, looking to tap into the employer-focused healthcare market.

LifeWorks shareholders will have the option to receive C$33.00 per share in cash, or 1.06 Telus shares, for each share held, or a mix of both.

The offer represents a premium of about 81% to LifeWorks stock's Wednesday closing price, while the equity value of the deal is C$2.3 billion, according to Reuters calculations.

LifeWorks will combine with Telus Health once the deal closes.

($1 = 1.2938 Canadian dollars)

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