BrilliantWell, hardly anyone saw THIS particular way of breaking the deal. Most people's eyes were on the lenders.
Let's face it...Teachers found a way to not only get out of this deal - but also to do it without having to pay the $1.2 billion breakup fee. How brilliant is that?
The notion that this information is new to BCE is laughable. So here sat KPMG knowing full well the whole time that they were not going to sign off on the deal. They must have made off like bandits shorting this thing.
Unfortunately, the stock will probably take another hit on December 11th or 12th when the deal is officially killed, because there are still some dreamers in denial or speculators buying at these prices. Then we have a global recession/depression to look forward to in 2009 which will surely hurt BCE (but not as much as many other companies).
Looks like my grandchildren will be inheriting a whack of BCE shares.