The buyers would instead purchase between $8 billion and $10 billion of preferred securities. The plan also involves a dividend of between $8 and $10 a share to be paid out.
Last week, the deal to take BCE private appeared to be in doubt after an advisory firm said the leveraged buyout would put the telecom company’s solvency at risk.
The deadline to complete the deal is Dec. 11.
Click here for more about the deal in our special online report, The Rise of Private Equity.
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The group led by the Ontario Teachers’ Pension Plan which plans to take over BCE may reportedly propose another plan.