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As one of Canada’s most bitterly contested acquisitions nears the finish line, a dozen hedge funds including Citadel and Millennium Management are heaving a sigh of relief and sitting on profit of more than C$216 million ($162 million) on paper after a nearly two-year roller coaster ride.

Prospects for Rogers Communications Inc’s (RCIb.TO) C$20 billion bid for Shaw Communications Inc (SJRb.TO) brightened after Canada’s competition bureau this week dropped plans to block the deal. While the Canadian government still has the final say, most analysts and competition lawyers expect the deal to clear the last hurdle and close by the Jan. 31 deadline.

Published by Maiya Keidan and Nell Mackenzie in Reuters.