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On September 30, 2007, Bell Canada Enterprises Inc. agreed to be bought by the Ontario Teachers’ Pension Plan for $51.7 billion, the largest corporate takeover in Canadian history. BCE had the most widely held shares in the country; therefore, is it important that its’ shareholders understand the implications.
The good news for current shareholders is that they will receive a reported $42.75 cash per-share as part of the deal. The downside is that many Canadians who have owned and held onto BCE shares (in some cases) for decades will now trigger large capital gains taxes for holdings in non-registered accounts. Since capital gains are 50 per cent taxable, a sizeable tax liability is looming on the horizon for some BCE investors.
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