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Bell Canada reaches buyout deal, price remains the same

NEW YORK (MarketWatch) — BCE Inc. said Friday it reached a final agreement with a group of investors to amend a buyout deal with a higher breakup fee, but the price will remain at $42.75 a share. Shares of BCE closed at $34.75 a share on Thursday. An executed credit agreement for the parent company of Bell Canada and other key financing documents have been finalized; a reverse break fee payable by the purchaser has been increased to $1.2 billion and closing will take place on or before Dec. 11. Prior to closing, the company will not pay dividends on its common shares but will continue to pay dividends on its preferred shares. The board of directors of BCE has confirmed George Cope, COO of Bell Canada since 2005, as the next CEO of Bell Canada, effective July 11.
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Original post by Forextvblog

This entry was posted on Friday, July 4th, 2008 at 7:22 am and is filed under Daily Forex Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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