TD Bank to put capital into BCE deal: report

(Reuters) - Under the terms of the deal, Teachers will own 52 percent of BCE, while Providence Equity Partners and Madison Dearborn Partners will together have about 41 percent.




The Globe said TD's plan is to sell-off its equity stake to other large Canadian investors once the deal is approved.


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Canadian Stocks Gain on Takeover Talk; Alcan, Research in Motion Advance

(Bloomberg) -- Canadian stocks rose for a third time in
four days and headed for a weekly gain, as takeover speculation
lifted shares of raw-materials producers and telephone companies.

Alcan Inc. advanced on a report that Rio Tinto Group hired
bankers to help it consider a bid for the aluminum maker. Telus
Corp. extended gains made following BCE Inc.'s takeover last week
in the biggest buyout. Research in Motion Ltd. fell after reaching
a record yesterday.


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Canadian Telephone, Materials Stocks Gain on Heightened M&A Speculation

(Bloomberg) -- Canadian telephone and materials
stocks including Telus Corp. advanced for a second day after
takeover speculation was fanned this week by the acquisitions of
BCE Inc. and Aur Resources Inc.

Energy producers such as EnCana Corp. fell on declining
natural-gas prices, while financial companies including Bank of
Nova Scotia retreated on concern that the Bank of Canada may
raise borrowing costs next week.


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Canadian Stocks Gain for Third Day; Telus Rises on Buyout Speculation

(Bloomberg) -- Canadian stocks rose for a third day
on speculation that Telus Corp. may seek to top a buyout offer
accepted last week by BCE Inc. from the Ontario Teachers' Pension
Plan.

Gains in the market were limited by Research In Motion Ltd.,
whose shares declined after reaching a record yesterday.


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BCE rating could fall over 6 notches -S&P

(Reuters) - However, if enough equity is contributed to achieve initial
leverage of under 7 times and further reductions in debt were
expected in the medium-term, the rating would likely be at the
mid-to-low end of the BB category, the agency said.




BCE said on Saturday its board recommended shareholders
accept a C$42.75 a share offer from a consortium including the
Ontario Teachers Pension Plan, Teachers Private Capital,
Providence Equity Partners Inc. and Madison Dearborn Partners,
LLC.


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Canadian Stocks Rise on Takeover Speculation, After Deals by BCE and Aur

(Bloomberg) -- Canadian stocks rose on takeover
speculation after BCE Inc., Canada's biggest phone company, was
sold for C$34.2 billion ($32.1 billion) in the largest leveraged
buyout.

The speculation was fanned by an agreement by Teck Cominco
Ltd. to buy Aur Resources Inc. for C$4.1 billion. The Standard &
Poor's/TSX Composite Index rose 117.92, or 0.9 percent, to 14,024.
49 as of 9:45 a.m. in Toronto.


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US STOCKS-Indexes rise on data, takeover news

(Reuters) - NEW YORK, July 2 - U.S. stocks rose on Monday,
boosted by takeover news and data that showed manufacturing
growth quickened in June even as price pressures eased.




In deal news, Canada's largest telephone company, BCE Inc
, agreed to a proposed US$32.8 billion buyout
from a group that includes the Ontario Teachers Pension Plan on
Saturday, in the biggest such transaction in Canadian corporate
history. For details, see [ID:nN02315411].


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BCE, Dobson, Focus, InterOil, Theravance, Virgin Media: U.S. Equity Movers

(Bloomberg) -- The following is a list of companies
whose shares are having unusual price changes in U.S. exchanges
today. Stock symbols are in parentheses after company names.
Share prices are as of 9:35 a.m. New York time.

BCE Inc. (BCE US) rose $1.28, or 3.4 percent, to $39.07.
Ontario Teachers' Pension Plan, which manages C$106 billion ($100
billion) for teachers in Canada's most populous province, agreed
June 30 to buy the country's biggest phone company for C$34.2
billion with investors including Providence Equity Partners Inc.
The value of the transaction with debt, preferred shares and
minority interests is C$51.7 billion.


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BCE takeover battle may not be over yet -report

(Reuters) - One of the losing BCE suitors, U.S. buyout firm Cerberus
Capital Management LP, has not given up its pursuit of BCE, the
newspaper reported, citing a source close to Cerberus.




"It's not over until we say it's over," it quoted the source
as saying.


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UPDATE 1-Teachers group wins C$52 bln race for BCE

(Reuters) - It said that was a 40 percent premium over what it called
the "undisturbed share price," or the price before BCE put
itself up for sale. BCE shares closed at C$40.34 on the Toronto
Stock Exchange on Friday.




"The all-cash transaction is valued at C$51.7 billion,
including C$16.9 billion of debt, preferred equity and minority
interests," BCE said, adding that it expected the deal to close
in the first quarter of next year.


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Canadian Stocks Gain After Research In Motion Profit Rises; BCE Advances

(Bloomberg) -- Canadian stocks rose the most in two
weeks after Research In Motion Ltd. announced a stock split and
first-quarter profit that exceeded analyst estimates.

Research In Motion, the maker of BlackBerry e-mail phones had
the biggest jump in nine months and reached a new high. BCE Inc.,
Canada's biggest phone company, gained after the Ontario Teachers'
Pension Plan said it made bids for all BCE shares it doesn't
already own.


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Almost half of Canadians oppose BCE-Telus merger

(Reuters) - Last week, Telus touted the creation of a "national
champion" by proposing a takeover of BCE, Canada's largest
telecom company. Telus became the fourth party interested in
mounting a bid for Montreal-based BCE. The other three are
buyout consortiums that each include a different U.S.
private-equity firm.




The survey found that 68 percent of respondents believe the
cost of wireless services would rise and 80 percent foresee
"massive layoffs" if a merger of Telus and BCE were to take
place.


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UPDATE 1-Catalyst Asset proposes exchange offer for BCE

(Reuters) - Each stapled security would consist of one underlying Bidco
common share and one Bidco subordinated debt security. The
combined dividends and interest per stapled security would be
set at an initial annual rate of C$2.55, Catalyst said. This
compares with BCE's current dividend of C$1.46 a share, it
said.




BCE, parent of phone company Bell Canada, is already the
target of three buyout consortiums and is also in talks to be
acquired by smaller rival Telus Corp.


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Catalyst Asset proposes exchange offer for BCE

(Reuters) - Each stapled security would consist of one underlying Bidco
common share and one Bidco subordinated debt security. The
combined dividends and interest per stapled security would be
set at an initial annual rate of C$2.55, Catalyst said. This
compares with BCE's current dividend of C$1.46 a share, it
said.







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