RE:WHAT HAPPENS IF BCE BID GETS REJECTED?MBT is covered with the break fee. Ya, ya, ya, I get it you're trying to spread fear with a grain of truth as there is always a possibility of rejection and yes the stock will go down if a takeover fails.
You haven't seen enough failed take overs. With a $3.5 billion break fee Halliburton attempted to take over Baker Hughes. This year Halliburton took a +$3 billion loss for their failed acquisition of Baker Hughes. BCE will owe MTS a $120 Million break fee. From the agreed upon take over:
https://about.mts.ca/wp-content/uploads/2016/06/MTS-special-circular-FINAL.pdf The Arrangement Agreement provides that a Reverse Termination Fee in the amount of $120,000,000 is payable by BCE to MTS in certain circumstances, including (i) if the Arrangement Agreement is terminated because an Award with respect to Competition Act matters, or matters relating to the CRTC Approval or the ISED Approval, has been made that precludes consummation of the Arrangement or prevents satisfaction of certain conditions precedent relating to the Required Regulatory Approvals,
Preclude: "prevent from happening; make impossible"