Via www.controlledgreed.com:
When I purchased stock in BCE Inc. (BCE/NYSE) last August, I said one of the things I liked about the company was management's commitment to repurchasing shares. Shedding assets and ample dividend payouts are added attractions.
Yesterday BCE announced plans to buy back and cancel another C$1.2 billion worth of its stock, or about 5% of the shares. BCE previously bought 45.15 million of its common shares, at a total cost of C$1.24 billion cash, in a normal course issuer bid that expired on Februa...
Via www.controlledgreed.com:
The Globe and Mail reports that several institutional shareholders of BCE (BCE/NYSE) have told the Ontario Teachers Pension Plan they would support its effort to buy the company -- if the purchase price is roughly C$40 a share.
These institutions reportedly own more than a third of BCE:
Some of these major shareholders said any bid in this range will
almost certainly have their backing, given BCE's weak stock performance
and mounting impatience with the company's turnaround efforts under
chief ...
Via www.controlledgreed.com:
Canaccord Adams analyst David Lambert says BCE (BCE/NYSE) could make a C$12-billion takeover bid for Shaw Communications as a potential defense
against any buyout, according to Canada's Financial Post:
Despite Rogers’ better financial positioning for a possible bid for
Shaw, Mr. Lambert thinks BCE’s ability to make a cash offer would help
it win such a battle. This hypothetical cash and stock deal, would see BCE assume $3-billion of Shaw’s debt. He
also sees both revenue and...
Via www.controlledgreed.com:
Canada's biggest buyout firm, Onex, has joined forces with the CPP Investment Board in the takeover battle that's unfolding for BCE (BCE/NYSE). The Globe and Mail reports:
Onex is jumping into the takeover battle because it is attracted to
BCE's strong Bell Canada brand and huge customer base, and the
potential for a shift in corporate culture that could drive far greater
profits, according to sources close to the company.
Toronto-based Onex brings the ability to win contested auctions and
oper...
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$25.84 (02/10/07)
