Takeover of BCE, officially dead!

[Canadian]

The biggest leveraged buyout in history, which was supposed to take the largest Canadian telecom company BCE (parent of Bell Canada) private is dead.

The deal fell through because the review by the accounting firm KPMG found that BCE doesn't meet the solvency tests required by the privatization agreement.

Bell Canada has been gouging Canadian consumers for decades and I'm really happy that the deal didn't go through :).

[trent]

The credit markets are nearly frozen and mergers and acquisitions have come to a halt. Now many companies will find out that they will have to actually start earning money without relying on much credit, instead of being paper tigers.

[Jason]

When there is credit contraction many businesses suffer, as they cannot finance their day-to-day operations. When a business suffer it looks to cut expenses and the easiest way to do that is to let people go. When unemployment goes up, people lose confidence in the system and the economy and cut their spending, which further affects negatively already suffering businesses. It's a vicious circle, and the sooner credit markets start functioning smoothly, the better for all of us.

[dreamy]

So this is why they have changed their logo. I was wondering why... they remind me of Rogers in so many ways.... Big monopolist :(