Update on BCE Inc.

Article Excerpt

BCE INC. $40.46 (Toronto symbol BCE; SI Rating: Above-Average) earned $0.56 a share excluding one-time items in the three months ended June 30, 2007, up 3.7% from $0.54 a year earlier. Revenue rose 1.6%, to $4.44 billion from $4.37 billion. BCE has accepted a $42.75-a-share all-cash takeover offer from a group led by the Ontario Teachers’ Pension Plan. The difference between the takeover price and today’s trading price reflects the possibility that the deal could fall through. However, we see this as unlikely, since the Ontario Teachers’ group has secured financing commitments from several banks. So, despite rising interest rates, the group should be able to go through with the transaction, probably in the first quarter of 2008. BCE is still a hold. hold…