BRIEF-BCE announces agreement to acquire Manitoba Telecom Services

Mon May 2, 2016 7:49am EDT
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May 2 (Reuters) - Bce Inc

* Bce announces agreement to acquire manitoba telecom services (mts)

* Will acquire all of issued and outstanding common shares of mts for $40 per share

* Will fund cash component of transaction from available sources of liquidity

* Mts will not declare any further dividends on its common shares after its upcoming second-quarter 2016 dividend

* When transaction is completed, mts shareholders will own approximately 3% of pro forma bce common equity

* Bce would receive a termination fee of $120 million in event agreement is terminated as a result of a superior proposal

* Aggregate consideration will be paid 45% in cash and 55% in bce common shares

* Transaction enterprise value of approximately $3.9 billion   Continued...