The battle for Canadian telecom giant BCE Inc. was settled Friday without any fireworks.
BCE, its private-equity buyers and the banks have hammered out a final agreement to complete the $35 billion privatization -- the largest leveraged buyout ever. The pact delays the closing of the deal until December but maintains the transaction's original price struck one year ago.
By keeping to the original $42-per-share deal price, BCE avoids having to ask shareholders to approve the transaction again and to repeat the lengthy judicial and regulatory processes in Canada to clear the deal. In recent weeks the banks financing the ...
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