No judgement yet from Supreme Court on BCE buyout

OTTAWA – The Supreme Court of Canada on Tuesday reserved judgement on an appeal of the $53-million takeover of BCE Inc. by a consortium, including the Ontario Teachers’ Pension Plan. BCE took the case to the Supreme Court after some investors in Bell Canada successfully convinced a Quebec Court of Appeal that the acquisition did not adequately consider the impact on Bell bondholders. The Quebec Court of Appeal rendered its decision in favour of the bondholders on May 21. BCE subsidiary Bell Canada is guaranteeing the $34 billion needed to finance the deal, but the bondholders contend that Bell Canada...