BCE shareholders to vote on going-private transaction on Sept. 21

By Lisa Kerner

Charlotte, N.C., Aug. 8 - BCE Inc. will hold a special shareholder meeting on Sept. 21 at 9:30 a.m. ET for the purpose of voting on the company's privatization by Ontario Teachers' Pension Plan Board, affiliates of Providence Equity Partners Inc., Madison Dearborn Partners, LLP and others.

The record date for the meeting is Aug. 10, according to a company news release.

Under the terms of the July 2 definitive agreement, the investor group will acquire all of the common shares of BCE not owned by Ontario Teachers for C$42.75 each and all of the company's preferred shares at between $25.25 and $25.87 each.

As previously reported, the all-cash transaction is valued at C$51.7 billion, including C$16.9 billion of debt, preferred equity and minority interests.

The BCE board of directors unanimously recommended that shareholders vote to accept the offer.

BCE expects the transaction to be completed in the first quarter of 2008.

BCE is a Montreal-based communications company that provides telephone, internet, television and information services.

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