TORONTO - BCE Inc . on Friday won the right to go ahead with the largest leveraged buyout in history, a US$35 billion deal that the telecommunications company's bondholders fought, saying it would reduce their holdings to junk.
"We're pleased with the Supreme Court's decision and we're continuing to work to complete an acquisition of BCE," Ontario Teachers' Pension Plan spokeswoman Deborah Allan said.
The last hurdle to the deal also looks to be gone as the banks said they would proceed with the deal. The banks are slated to provide billions in financing to complete what is a US$51 billion cash and debt takeover.
Full Story: Canadian court allows largest ever leveraged buyout (AP)
"We're pleased with the Supreme Court's decision and we're continuing to work to complete an acquisition of BCE," Ontario Teachers' Pension Plan spokeswoman Deborah Allan said.
The last hurdle to the deal also looks to be gone as the banks said they would proceed with the deal. The banks are slated to provide billions in financing to complete what is a US$51 billion cash and debt takeover.
Full Story: Canadian court allows largest ever leveraged buyout (AP)
