Blakes, Sullivan Aid BCE's $3.4B Astral Media Takeover Bid

Law360, New York (March 16, 2012, 4:58 PM EDT) -- Canadian telecommunications giant BCE Inc. plans to scoop up Montreal-based Astral Media Inc. for CA$3.38 billion (US$3.4 billion), securing the No. 1 spot in the country's French-language media sector, it said Friday.

Per a definitive agreement, BCE will put up 75 percent of its offer in cash and then cover the rest, about CA$750 million, with stock options. It's also planning to assume a net debt of CA$380 million in exchange for picking up all of Astral's pay and specialty television services, radio stations, digital media...
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