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Brookfield Corporation, Brookfield Wealth Solutions Boards Approve Corporate Simplification Plan

Brookfield Corporation (BN.TO) and Brookfield Wealth Solutions (BWS) after trade Tuesday said their boards have approved the plan to simplify their corporate structure by combining under one publicly traded company, Brookfield Corporation Ltd.The new company will trade on the New York and Toronto exchanges under the symbol "BN," they added.Under the deal, all BN class A limited voting shares and BWS class A exchangeable limited voting shares will be exchanged on a one-for-one basis for shares in the new company. The transaction will be completed through a court-approved plan of arrangement and will require approval from shareholders of both BN and BWS and is set to be completed on a tax-deferred basis for U.S. and Canadian shareholders."Management information circulars of BN and BWS will be filed with applicable securities regulators, providing full details of the transaction and the matters contemplated therein will be voted on at the 2026 annual general meetings of BN and BWS, both to be held on July 16 as approved by the TSX," the companies said.After the transaction is completed, Brookfield Corporation Ltd. is expected to pay a quarterly distribution equal to the current distributions paid by BN and BWS. The deal remains subject to customary conditions and regulatory approvals and is expected to close by the end of the year.

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TeraGo Says It Welcomes Canada's New mmWave Spectrum Framework

TeraGo (TGO.TO) after trade Tuesday said it welcomes the Canadian government's new Policy and Licensing Framework for the 26 gigahertz (GHz) and 38 GHz spectrum bands."The framework provides visibility into the long-term spectrum environment while supporting the continued development of important fixed wireless and enterprise connectivity use cases. The transition path for existing licensees enables continued service delivery to customers while providing flexibility to evolve our network over time," Chief Executive Daniel Vucinic said.The framework was released by Innovation, Science and Economic Development Canada (ISED). Existing license holders that meet the new conditions will be allowed to convert their licenses to flexible-use licenses as part of the broader licensing process, the company said.The spectrum auction is expected to begin in October 2027, with licenses issued after the auction is completed. Current fixed service licenses will remain valid until March 31, 2029, giving companies several years to transition, according to the statement.TeraGo said it will continue reviewing the impact of the decisions and will take part in the transition process according to ISED's timelines and requirements.The company's shares closed down$0.02 to $1.30 on the Toronto Stock Exchange.