22
05
2008
Option Update: BCE July volatility at 28 into Canadian court blocking buyout
Posted by: in Latest News
BCE Inc (NYSE: BCE) a Quebec Canadian appeals court rejected the buyout of Canadian telecommunication company BCE.
BCE bondholders claimed the deal is unfair to them. BCE, Canada’s largest telecommunications company, announced on June 30, 2007, it concurred to be acquired by an investment arm of Ontario Teachers Pension, Providence Partners and Madison Dearborn Partners for an announced deal price of $42.75 per share. The transaction is scheduled to close by June 30.
BCE July option implied volatility of 28 is below its 26-week average of 33 according to Track Data.
Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.
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