Posted on 12/06/07
Onex teams up with CPP in battle for BCE
Canada's biggest buyout firm, Onex Corp., threw its considerable weight behind the CPP Investment Board yesterday in the three-way takeover battle unfolding for telecommunications giant BCE Inc. Onex is expected to take up to 12-per-cent of the equity in a potential buyout of BCE. The bid reunites Onex founder Gerald Schwartz with Kohlberg Kravis Roberts & Co. co-founder Henry Kravis, as the two financiers started their careers by working together at a U.S. investment bank and are now both backing the bid led by the Canada Pension Plan Investment Board.
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