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Shareholders file class action suit against BCE buyout

  • Paul, Weiss, Rifkind, Wharton & Garrison LLP
  • -
  • Canada
  • -
  • October 31 2008

The $52 billion sale of BCE, Inc., Canada’s largest telecom operator, to a private equity consortium is facing a fresh legal challenge in the form of a class action lawsuit, brought by holders of the company’s common stock, that seeks $588 million plus punitive damages for recovery of dividends that were suspended during the second and third quarters this year

Supreme Court of Canada allows BCE buyout to proceed

  • Paul, Weiss, Rifkind, Wharton & Garrison LLP
  • -
  • Canada
  • -
  • June 27 2008

The sale of Bell Canada parent BCE to a consortium linking the Ontario Teachers Pension Plan with two U.S. private equity firms was given the green light last Friday by the Supreme Court of Canada, which reversed a Quebec appeals court ruling that blocked the deal on grounds that BCE had not considered the interests of bondholders in pursuing the $52.8 billion transaction

Quebec court blocks sale of BCE to private equity investors

  • Paul, Weiss, Rifkind, Wharton & Garrison LLP
  • -
  • Canada
  • -
  • May 30 2008

The proposed sale of Bell Canada parent BCE to an acquisition group backed by Providence Equity Partners and Madison Dearborn Partners was dealt a major setback by a Quebec appeals court, which blocked the deal on grounds that BCE had not considered the interests of bondholders in pursuing the U.S.$52.8 billion transaction