Nordiq board to recommend new Bell Aliant deal

MONTREAL – Regional telco Bell Nordiq Group said Monday that its board of directors will recommend approval of the deal to acquire the company by Bell Aliant, taking Bell Nordiq private. Currently, Bell Aliant holds a 63.3% voting interest in Bell Nordiq, while minority unitholders hold the remaining 36.7%. "(T)he board considered the information presented to it, including the favourable report of the special committee of the board, comprised entirely of independent directors, formed to review and consider the proposed transaction. The special committee has obtained a formal valuation and fairness opinion from UBS Securities Canada… (which) concluded that as...