Pension Plan Buyout of Bell Canada Would Set Record
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TORONTO, June 30 -- Bell Canada agreed Saturday to be bought by a private partnership led by the Ontario Teachers Pension Plan in a deal valued at $48.5 billion that would be the largest leveraged buyout ever.
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The telecommunications company announced on Tuesday a share buyback program worth nearly $16 billion and its biggest-ever dividend increase.
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Ottawa is selling off its $3.1-billion stake in Petro-Canada, the Calgary-based oil company says. The stock sale would be the biggest in Canadian history.
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The battle to take over Canada's biggest telephone company, BCE Inc.  , may not be over yet, with some on Monday expecting a higher bid to emerge.
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MONTREAL (CP) - BCE Inc., a major media company and the parent of a Bell Canada, is increasing its annual common share dividend by 12 cents, or 10 per cent, to $1.32 a share.
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MONTREAL (CP) - BCE Inc. is posting a special charge of $985 million as 5,052 workers - 11 per cent of the workforce - take advantage of buyouts announced earlier this year.
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The Onex Corporation, Canadaâs largest investment firm, has joined the Canadian Pension Plan Investment Board in its bid for Bell Canada, the countryâs largest telephone company. Onex will bring additional capital to the bid and help ensure that the pension fundâs bid meets Canadian ownership requirements for telecommunications companies. Others in the bidding group include Kohlberg Kravis Roberts and Caisse de DÃ©pÃ´t et Placement du QuÃ©bec, that provinceâs biggest pension fund. Bell, which changed its name from BCE last week, has formally recognized two other bidding groups, one led by the Ontario Teachersâ Pension Plan, Bellâs largest stockholder with 6.3 percent of its shares, and the other led by Cerberus Capital Management working with unnamed Canadian investors.
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MINER and takeover target WMC Resources today forecast a record profit for 2004 and unveiled plans to hand back $1 billion in cash to shareholders.
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An investment banking firm proposed recapitalizing Bell Canada as an alternative to the three competing privatization offers and one takeover bid for the company.
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Ottawa is indeed selling off its stake in Petro-Canada, the Calgary-based oil company says. The stock sale would be the biggest in Canadian history.
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The battle to take over Canada's biggest telephone company, BCE Inc. , may not be over yet, with other suitors saying they are considering their options, The Globe and Mail reported on Monday.
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Telecoms group BT bolstered its worldwide presence today by unveiling plans for a landmark acquisition costing almost one billion US dollars.
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SINGAPORE: The mainland&#39;s plan to buy Canadian mining giant Noranda for some US$5 billion is just the beginning of an overseas acquisition march fuelled by swollen foreign exchange reserves and a need to secure natural resources.
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Shares of Circuit City Stores Inc.  CC.N surged 19.5 percent before the bell on Tuesday after the  consumer electronics chain said it had received an unsolicited  buyout offer valued at $17 per share.
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The sale of shares by the Industrial and Commercial Bank of China as part of an I.P.O. could set a record by raising a project $19 billion.
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The Canadian telecom equipment maker has issued its first post-accounting-scandal financial update. So far, so good ...
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The controversial plan to create a  Canadian telecom &quot;champion&quot; by merging Telus Corp.  with  market leader BCE Inc.  would not choke competition and  require a sale of either company&#39;s lucrative wireless network,  Telus&#39;s chief executive said on Thursday.