Don't you wonder why the teachers don't just come out and say the deal is off due to the insolvency issue. Hell they have the report ( correct or not ) from KPMG stating they can't give a positive opinion regarding this. Why make the share holder suffer any longer. If you have no intentions of full filling your end of the bargain then just walk away and let everyone get on with there lives. Dividend can be reinstated and company can do what ever they want with the cash they have saved over the last year. Please don't try coming back 6 months down the road saying you made a big mistake and try to take us to the alter again. Frankly I don't think the share holders would look kindly on this at any price. We bargained in good faith. You on the other hand, well lets just say we are feeling a little jilted right now. But don't worry about us, We'll get over it and continue to build a stronger an better company that will surely attract a purchaser who has the money to fund the transaction and have credibility. And by the way good luck on any future endevours. I'm sure companies will more than willing to deal with a group that bargains in such good faith as yours did.
This whole thing is disgusting and if the deal doesn't go through I hope BCE sues Teachers.
The NERVE of them allowing the deal to fail at this late stage due to the problems with the numbers that Teachers CHOSE to do this deal with! I don't think people realize what is going on here. They are looking to blame BCE but it's absolutely Teachers who is the culprit. To be sure, BCE made a number of mistakes. But at the beginning, what they did was get the best deal they could for BCE shareholders. Can't blame them for that. And when the deal was struck - nobody envisioned what would happen. The lawsuits, Appeals court, Supreme court, banks collapsing, stock markets crashing, etc., etc. Yes, mistakes were made by BCE. But let's not ignore what is really going on here: Teachers made a deal, drageed BCE through almost 2 years of hell, and now they are bailing because the numbers look much worse than they did when they agreed to purchase BCE. Well, excuse me, but FFFFUUUKKKK YOOOUUUU Teachers! YOU were the ones who said $42.75. YOU were the ones who leveraged the deal to the hilt. Those were YOUR terms! And now, on a technicality, you are going to weasel away from this deal - without even paying a break fee - just because you can? How low can you get?
That the consequences of all of these things would fall on the SELLER'S shoulders instead of the PURCHASER'S is as unjust as it gets. We are being penalized for having fought our hardest to get the deal done. Many months lost that could have been used to sell teh company to someone else! Teachers is getting an escape because the deal that BCE fought so hard to give to Teachers took so long! How outrageous!
Their numbers were totally ridiculous from the very start - and now the are using those ridiculous numbers as their escape route? This is madness. It would be one thing if BCE suddenly underperformed dramatically. But that isn't the case. It's that the MARKET has been whacked hard, thus the assets are worth less and the liabilities worth more. Well, duh! Why should that market risk be born by the seller??? That's the real issue here. It's not that KPMG would find the post-deal BCE insolvent in today's market. That's subjective and somewhat obvious.
And Teachers feels no obligation to reimburse BCE for it's troubles? Are you f'n kidding me?!?!?
"We'll get over it and continue to build a stronger an better company that will surely attract a purchaser who has the money to fund the transaction and have credibility. And by the way good luck on any future endevours. I'm sure companies will more than willing to deal with a group that bargains in such good faith as yours did. "
Exactly. I sincerely hope BCE turns into a more successful company and Teachers will NEVER get my vote to buy BCE at any price - ever. They have forever forfeited their right to acquire BCE. Shareholders will not be forgiving.
I coundn't of said it better myself. The teachers are behaving like the rest of the market and are being very short sited. I beleive this will come back to haunt them some day as the deal that got away. If they truely wanted BCE they could find an way to make it work ( ie cough up so more cash etc. etc. ) if this deal slips away then thats the last dealings that BCE should have with the Teachers other than in court fighting for the deserved break up fee.
"let everyone get on with there lives"
Wake up. The dead line is tomorrow, no one from the buyers side will come and talk about the dead deal before that date, in particular because they all hope it is dead.
You must believe also in Santa Claus to expect anything else than the announcement of the official death.
Investors should understand once for all that they have to own the stock based on its own merit as a telephone company instead of a now impossible buyout candidate.
He jack ass. If the deal is dead ( which I beleive it is ) it won't matter one bit if they come out and say it today or tomorrow. The teachers obviously have an agenda and its currently not to purchase this company. So if they come out and say this BCE can get on with normal business instead of playing the games we currently play.Frankly its better for them and the share holders. As for the buy out the company is the same as it was when they first made the offer ( if anything in a stronger position ) Bottom line is they never had enough cash to even purchase this company ( its way out of there league. )They were stupid to make the offer and we were stupid to accept.When credit markets do clear up with company will be snatched up for a far better price. But for now give us back the dividend and let things stablize. If it wasn't for the current Canadian Government rules regarding ownership this gem would have been is some foreign hands long ago.