Telus to abandon BCE pursuit: report

(Reuters) - BCE, which is Canada's largest telecommunications group, has accepted an offer worth C$34.8 billion from a group including the Ontario Teachers Pension Plan.




Since pulling out of bidding, Telus had been lobbying regulators and meeting the Canadian Competition Bureau, hoping to get some guidance before BCE held its shareholder vote, the paper reported, citing unnamed sources.


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TD Bank to put capital into BCE deal: report

(Reuters) - Under the terms of the deal, Teachers will own 52 percent of BCE, while Providence Equity Partners and Madison Dearborn Partners will together have about 41 percent.




The Globe said TD's plan is to sell-off its equity stake to other large Canadian investors once the deal is approved.


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Fitch cuts BCE to junk status on leveraged buyout

(Reuters) - The pending $32.6 billion buyout would be the biggest
global buyout if it goes through.




Fitch lowered BCE's issuer default and senior unsecured
debt ratings to "BB-minus," three steps below investment grade,
from "BBB-plus," three steps above junk territory.


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BCE Sale Will Force Canadian Investors to Seek Dividend Yields Elsewhere

(Bloomberg) -- BCE Inc., whose dividends made the
stock a popular gift for Canadian grandchildren, will disappear
from portfolios after its C$34.2 billion ($32.1 billion) buyout,
forcing retail investors to look elsewhere for returns.

``My grandmother gave me that stock,'' said Greg Deitcher,
38, a Toronto resident who's owned BCE since his teens and now
holds about 200 shares. ``BCE was well-known for paying a
dividend. I don't know what I'm going to do now.''


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US STOCKS-Futures signal higher open on deal activity

(Reuters) - Stocks will also get direction from a report on
manufacturing activity, which investors will scrutinize for
clues about the outlook for profits.




Canada's largest telephone company, BCE Inc
, agreed to a $48.5 billion buyout from a group that
includes the Ontario Teachers Pension Plan on Saturday, in the
biggest buyout in Canadian corporate history. For details, see
[ID:nN02315411].


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Canadian Stocks May Gain on Research In Motion's Profit; BCE May Advance

(Bloomberg) -- Canadian stocks may rise after Research
In Motion Ltd. announced a stock split and first-quarter profit
exceeded analyst estimates.

Research In Motion, the maker of BlackBerry e-mail phones,
surged 17 percent in trading before the open of Canadian exchanges.
BCE Inc., Canada's biggest phone company, gained after the Ontario
Teachers' Pension Plan said it made bids for all BCE shares it
doesn't already own.


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BCE: Cerberus part of third bid group

(Reuters) - BCE has said it is reviewing all strategic alternatives, a process that it expects to complete in the third quarter.




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