Shaw Communications (Shaw Communications Stock Quote, Chart, News, Analysts, Financials TSX:SJR.B) may still be trading below its proposed purchase price but investors might not want to stick around much longer, as the merger with Rogers Communications is a done deal, says portfolio manager Teal Linde. \u201cThe Shaw deal most likely goes through,\u201d says Linde, manager at Linde Equity Fund, who spoke on BNN Bloomberg on Monday. \u201cThere\u2019s sort of been an agreement between the Shaw and Rogers families for many, many years. They\u2019ve had a pretty close relationship and there was always this understanding that one day if Shaw was to sell out Rogers would be the takeover company.\u201d \u201cI think this is an example where you have a takeover that\u2019s going to occur and that\u2019s most likely going to follow suit. It\u2019s not a hostile bid and so I think it\u2019s already reflected in the share price of Shaw that this acquisitions is occurring,\u201d he said. First announced in March, the proposed $20.4-billion takeover would see Rogers pay $40.50 per share for Shaw, uniting Canada\u2019s number three and number four telecommunications companies in a big to compete with current frontrunners BCE and Telus. All the telcos are now spending big on infrastructure and rolling out 5G connectivity across the country, and Rogers and Shaw have said combining their strengths will give them a competitive advantage. \u201cWe\u2019re at a critical inflection point where generational investments are needed to make Canada-wide 5G a reality,\u201d said Rogers President and CEO Joe Natale in a press release. \u201cFundamentally, this combination of two great companies will create more jobs and investment in Western Canada, connect more people and businesses, deliver best-in-class-services and infrastructure across the nation, and provide increased competition and choice for Canadian consumers and businesses.\u201d Last month, Shaw shareholders overwhelmingly approved the merger and the deal received approval from the Court of the Queen\u2019s Bench in Alberta. Three significant hurdles remain, however, as Canada\u2019s Competition Bureau, the Ministry of Innovation, Science and Economic Development and the CRTC are all scrutinizing the deal, with closure not expected until early next year. Shaw\u2019s share price had been relatively flat for a good 12 months prior to news of the proposed merger, trading around $22-24 per share between March, 2020, and March 2021. The stock immediately shot up to $34 on the deal\u2019s announcement and has since drifted up to $35, still significantly under the offered $40.50. But Linde says investors might want to cash out now rather than wait for any further movement in the stock. \u201cYou could wait until the deal is done or if you\u2019ve got a need for the cash for some other purpose or some other acquisition, I think you could sell,\u201d Linde said. \u201cI don\u2019t think there\u2019s much more upside on Shaw and there\u2019s no talk of any other companies coming in to offer a higher bid,\u201d he said. Shaw, which is to present its fiscal third quarter 2021 earnings next Wednesday, beat estimates on its previous quarter, the company\u2019s Q2 released in April. Shaw reported a 34-per-cent year-over-year increase in earnings, up to $0.43 per share, and a 1.8-per-cent increase in revenue to $1.39 billion. Analysts had been expecting earnings of $0.34 per share on a topline of $1.38 billion. Shaw said it remains on track to meet its guidance for fiscal 2021, which calls for year-over-year adjusted EBITDA growth and free cash flow of about $800 million. Saying that the pandemic\u2019s impact on its Q2 results were \u201cnot material,\u201d management nonetheless asserted a note of caution. \u201cConsumer behaviour impacts remain uncertain and could still change materially, including the potential downward migration of services, acceleration of cord-cutting and reduced ability of customers to pay their bills, all due to the challenging economic situation,\u201d Shaw said in its second quarter press release. \u201cShaw Business primarily serves the small and medium sized market, which is also particularly vulnerable to the economic uncertainty in western Canada and COVID-19 related restrictions, including mandated closures, capacity restrictions, self-quarantines or further social distancing requirements,\u201d Shaw said. Shaw added 82,300 net new wireless subscribers to its Shaw Mobile and Freedom Mobile businesses over the second quarter while dropping 66,030 video, internet and home phone customers. Earlier this month, Shaw was a no-show at the start of the auction for federal licenses for 5G wireless networks, a move signaling Shaw\u2019s takeover by Rogers. Industry experts predict that for the deal to go through, Rogers will likely be forced to sell off some of its wireless assets to meet competition requirements in Canada\u2019s already-small pool of wireless competitors. Shaw shareholders voted last month in favour of the Rogers deal by a 99.8-per-cent majority.