It’s official. The buyout of BCE Inc., which would’ve been the largest ever private-equity deal in Canada, ain’t gonna happen. The merger agreement expired today.
Of course, this shouldn’t be big news to anyone who’s been following this would-be $41 billion saga. Accounting firm KPMG LLC put the kibosh on the deal in November when it indicated the company wouldn’t make the grade for solvency tests required for the deal to go through.
The Ontario Teachers Pension Plan, which was leading the consortium buying BCE, and Toronto-Dominion Bank were among the organizations involved in the now-failed privacy equity deal.
