BCE, Buyers Nail Down Buyout Terms

Canadian telecom giant BCE(BCE Quote) has at long last sealed the deal that will take it private.

The company announced Friday it had entered into a "final agreement" with the private-equity consortium that agreed to the purchase a year ago. The banks backing the deal -- at $34 billion, the largest leveraged buyout ever -- have given it a green light.

The agreement retains the original purchase price of C$42.75 a share, or about $42.00, but pushes the deal's closing date out until December. It also requires that BCE suspend dividend payments on its common shares until the deal closes, bolstering the company's cash coffers and providing extra security to the lenders. ...