Tuesday, April 10, 2007

Ontario Teachers' Said it is Not Working with KKR on BCE Bid, But Doesn't Rule Out Other "Options"

In a 13D filing after the close on BCE, Inc. (NYSE: BCE), Ontario Teachers' Pension Plan noted it is not pursuing a transaction to acquire BCE with KKR, as had been reported. However, Teachers' said it is closely monitoring developments and is exploring its options.
Reports from New York Times and the Globe and Mail said Ontario Teachers' Pension Plan approached Caisse de Depot et Placement du Quebec and the Canada Plan Investment Board about making a $45 billion bid for BCE, driving shares of the stock higher this morning. The reports also said the fund held talks will at least one private equity firm.
Traders are focusing on the statement from Teachers' that it is, "closely monitoring developments and is exploring its options."

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