BCE (BCE/NYSE) has announced it is in talks with Kohlberg Kravis Roberts & Co. and three Canadian pension funds. If BCE gets bought, it would reportedly be Canada's biggest buyout in history. It would also be a reversal in BCE management's stance opposing any takeover.
Many observers think BCE's institutional shareholders are pushing a deal. With BCE being Canada's largest telephone company, many Canadian institutions have probably been shareholders for years. The company's stock has been a fine performer since being recommended by Controlled Greed.com last August -- but has lagged in recent years.
Institutions that have owned BCE for ages now see the opportunity to rack up some gains.
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