Fifth bid would preserve Bell nearly as-is

TORONTO – Billing itself as "The Canadian Solution", Canadian investment banker Catalyst Asset Management has announced a bid for Bell Canada Enterprises which, on the face of it, presents no regulatory hurdles whatsoever. The bid, the fifth one to become public, would maintain Bell Canada as a stand-alone public company, and would benefit "all Canadians and Canada," says the press release. Catalyst's proposed transaction would be completed by way of an exchange offer by a Canadian Corporation formed exclusively for this purpose. That new company will offer one "stapled security" in exchange for each outstanding common share of Bell Canada....