MONTREAL – In a terse statement released this afternoon, BCE Inc. categorically denied recent media reports suggesting the giant telco and its buyers were renegotiating terms of their multi-billion-dollar transaction.
The investor group, led by Teachers’ Private Capital, the private investment arm of the Ontario Teachers’ Pension Plan, Providence Equity Partners Inc. and Madison Dearborn Partners, LLC will pay about $35 billion for Bell Canada Enterprises.
“While it is BCE’s policy not to comment on market rumours or speculation, in the interest of its shareholders, the company is today confirming that neither BCE nor its Board of Directors is involved in any discussions regarding any renegotiation of any of the terms of the definitive agreement entered into on June 29, 2007,” says the release today.
Under the terms of the definitive agreement, the Investor Group has agreed to acquire all of BCE’s outstanding common shares for $42.75 per share in cash and all of BCE’s outstanding preferred shares at prices set out in the definitive agreement.
