Watch out! As Bell Canada agrees to the terms of being taken over by a private alliance headed by Ontario Teachers Pension Plan. This $48.5 billion deal would mark the principal leveraged ever buyout in Canada. The shareholders’ nod to takeover this Canadian private telecommunications player would create the largest takeover in Canada. The Toronto based pension plan with assets 
worth $99 billion, invests & manages the retirement funds for Ontario’s 167,000 active & 104,000 retired teachers. With a 6.3% stake, the pension plan happens to be Bell Canada Enterprise’s (BCE) most important shareholder. A leveraged buyout of a mammoth public company by a private partnership, really makes the deal unique. Michael Sabia, Chief Executive, BCE said that the proposal is a 40% premium over the average price for BCE shares during the past year. Chairman, Richard J. Currie further added that the special step is for the shareholders who were always valued. The Group led by the pension plan, managed to outwit several other major bidders including a consortium of New York-based Cerberus Capital Management LP with Hong Kong based billionaire, Richard Li’s, Pacific Century Group & the Canada Pension Plan Investment Board with a backing coming from American buyout firm Kohlberg Kravis Roberts & Co.
worth $99 billion, invests & manages the retirement funds for Ontario’s 167,000 active & 104,000 retired teachers. With a 6.3% stake, the pension plan happens to be Bell Canada Enterprise’s (BCE) most important shareholder. A leveraged buyout of a mammoth public company by a private partnership, really makes the deal unique. Michael Sabia, Chief Executive, BCE said that the proposal is a 40% premium over the average price for BCE shares during the past year. Chairman, Richard J. Currie further added that the special step is for the shareholders who were always valued. The Group led by the pension plan, managed to outwit several other major bidders including a consortium of New York-based Cerberus Capital Management LP with Hong Kong based billionaire, Richard Li’s, Pacific Century Group & the Canada Pension Plan Investment Board with a backing coming from American buyout firm Kohlberg Kravis Roberts & Co.For Complete IIPM Article, Click on IIPM Article
Source: IIPM Editorial, 2006
An IIPM and Management Guru Prof. Arindam Chaudhuri's Initiative
Read more:-
Source: IIPM Editorial, 2006
An IIPM and Management Guru Prof. Arindam Chaudhuri's Initiative
Read more:-
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