Key BCE Takeover Decision Expected Today

According to an article published this morning in the Windsor Star, by 7:00 p.m. this evening we should learn whether the Ontario Teachers' Pension Plan buyout of BCE (the parent of Bell Canada) will proceed. Quebec Superior Court Justice Joel Silcoff is expected to deliver his ruling on the bondholders request that the court reject the plan or make its approval subject to the consent of the trustee of the bond issues.

The Justice is expected to deliver his ruling at 4:00 p.m. followed by a private review before the decision is announced publicly at 7:00 pm.

Credit markets have been deteriorating for some time now and if the court rules in favour of the bond holders, it will likely put the deal in serious jeopardy.

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