OTTAWA (Reuters) - For those in the business, a seat in Canada’s Supreme Court’s hearing on BCE Inc’s leveraged buyout is as hot as a ticket at the Stanley Cup hockey finals.
“This is the main event,” said Greg Thopar, a lawyer for bondholders who are asking the court to block the privatization of BCE, Canada’s largest telecom company.
Lawyers and investors started lining up at 3 a.m. outside the granite building, six hours ahead of the morning’s hearings. In many cases it was junior law clerks or other staff holding spots for their bosses, some who came up from the United States to keep their companies informed.
The hearings on the C$34.8 billion ($34.1 billion) buyout were scheduled to be over by lunchtime.
Reporting by Randall Palmer, Editing by Frank McGurty