BCE Inc. Completes Initial Phase Of Bell Aliant Privatization - Quick Facts

(RTTNews) - BCE Inc. (BCE.TO, BCE) and Bell Aliant Inc. (BA.TO) announced that it has successfully completed the initial phase of its offers to purchase all outstanding Bell Aliant publicly held common shares and to exchange all outstanding Bell Aliant preferred shares.

Also, BCE has extended the common share offer, in accordance with its terms, to October 2, 2014 in order to enable holders of common shares who have not yet tendered to deposit their shares to the offer prior to the completion of the privatization of Bell Aliant.

BCE said it expects to take up and accept for payment all common shares tendered in the extension and deposit payment for such shares with CST Trust Company on or before October 7, 2014. Holders of common shares who have validly deposited and not withdrawn their shares do not need to take any further action to accept the offers.

If at least 90% of the publicly held common shares of Bell Aliant are tendered to the offer following its extension, BCE plans to acquire the balance of the common shares not tendered through compulsory acquisition on or about October 31, 2014, as described in the offer and circular dated August 14, 2014.

The company said that if less than 90% of the publicly held common shares are tendered by October 2, 2014, it intends to effect, and will hold sufficient votes to approve, a subsequent acquisition transaction to acquire the remaining common shares at a meeting of Bell Aliant shareholders to be held on October 31, 2014.