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BCE and Teachers takeover group confirm $42.75 per share acquisition price |
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Written by THE CANADIAN PRESS
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Monday, 07 July 2008 |
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MONTREAL - BCE Inc. (TSX:BCE) says it has entered into a final agreement with the takeover group led by the Ontario Teachers' Pension Plan, and the acquisition price remains $42.75 per share.
BCE said in a statement that "The purchaser and the lenders have delivered fully negotiated and executed credit documents for the purpose of funding the transaction, including an executed credit agreement and other key financing documents." This ends stock-market suspense over whether the banks funding the highly leveraged $52-billion takeover would try to back out of the deal.
Closing of the takeover "will occur on or before Dec. 11," the statement added.
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