Maybe Neal's job is on the line due to the losses in his division and this is a way to placate Immelt and the board and hang onto his job, which I'm sure pays a lot more than the $500k he invested today.
BCE Inc.'s LBO Banks: Where's the Common Sense? [View article]
You're article is based on the premise that Teachers' could legally cut their offer and BCE would accept. Why would BCE shareholders accept a lowered offer? The banks already tried to get out of it and were defeated in the Canadian Supreme Court. All BCE investors have foregone two quarterly dividends and allowed Teachers' appointed BCE CEO to run amock through the company. In addition, American investors have seen their presumed payout decline 25% as the Canadian $ has fallen vs. the American $. And now BCE beat estimates. As a long BCE investor, I would vote against a lowered offer and take my chances in court ... again.
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