BCE Inc. on Friday won the right to go ahead with the largest leveraged buyout in history, a $35 billion deal that the telecommunications company’s bondholders fought, saying it would reduce their holdings to junk.
Canada’s Supreme Court overturned a lower court ruling that the sale of BCE, the parent of telecommunications holding company Bell Canada, to the Ontario Teachers’ Pension Plan and its minority U.S. partners didn’t adequately consider bondholders’ interests.