BCE Takeover is on Track

Article Excerpt

BCE $35.48 (Toronto symbol BCE; Shares outstanding: 806.2 million; Market cap: $28.6 billion; SI Rating: Above-Average) continues to trade below the $42.75-a-share offer from a group headed by the Ontario Teachers’ Pension Plan. However, new liquidity from governments should make it easier for the consortium’s lenders to honour their commitments to complete the takeover on December 11, 2008. Even if the deal does fall through, the group would have to pay BCE a break-up fee of $1.2 billion. That’s equal to 4% of its current market cap of $28.6 billion BCE is still a buy. buy…

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