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BCE $41 Billion Takeover Is Officially Dead
BCE(BCE Quote) will not be acquired by the Ontario Teachers' Pension Plan, Providence Equity Partners LLC, Madison Dearborn Partners LLC and Merrill Lynch Global Private Equity.
A KPMG study, which concluded the company would likely not remain solvent after a purchase, was the main cause for the deal to be terminated. The fear was that the company's assets would possibly not be able to cover its liabilities after the deal closed.
The stock has been basically now cut in half since the news of the deal getting shaky leaked out. We had removed shares of BCE from our "Recommended" list back on Sept. 17, when the stock traded at $34.58. We would simply avoid the shares at this point, with no hope of a deal now being the case.
BCE is not recommended at this time, holding a Dividend.com Rating of 3.4 out of 5 stars....
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