(a) Section 8.1(f) of the Definitive Agreement shall be deleted and replaced in its entirety with the following: “(f) the Purchaser and the Company shall have received an opinion at the Effective Time from KPMG LLP, or another nationally recognized valuation firm engaged by the Purchaser and agreed to by the Company, acting reasonably, in substantially the form delivered to the Company by the Purchaser on the date of the Final Amending Agreement.”
This looks like it's about to get very messy.
1) While it's up to Teachers to engage the "nationally recognized valuation firm", how can they nix the deal if PWC says BCE would be solvent? Very tricky situation.
2) The banks.
Stay tuned folks. This soap opera ain't over yet....
Yes, but it's Teachers' choice. BCE just has to agree. So Teachers could argue that they chose KPMG and BCE agreed, so that's that. But...that would be a helluva tough argument to make in light of another nationally recognized firm says they would be solvent.
Again, it boils down to how cooperative the buyers will be.
Man, I wish they'd find a way to lower the price. The buyers would be much happier, the banks would be much happier, and shareholders would still be very happy to get high $30's rather than the current SP. There *HAS* to be a way to effectively lower the price without doing a new deal.
Anyways...let's just PRAY that this story is true! ANd if it isnt', please God, dont' let BCE issue a denial before market open tomorrow! heheheh