MLSE kicks off Free Agent Frenzy

Huge acquisition breaking this morning...

Ontario Teachers Pension Plan wins bidding for BCE telecom

BCE Inc., Canada's largest telecommunications company, said Saturday it has reached an agreement to be bought by a group led by the Ontario Teachers Pension Plan for C$51.7 billion (US$48.5 billion), making it the largest takeover in Canadian history.

The Ontario Teachers Pension Plan Board in co-operation with U.S.-based Providence Equity Partners and Madison Dearborn Partners, LLC won out over several other bidders, BCE said in a statement.

The Teachers Pension Plan was already BCE's largest shareholder with a 6.8 percent stake.

The Ontario teachers pension group — with assets of C$106 billion (US$99 billion) in 2006 — invests and administers the retirement funds for Ontario's 167,000 teachers and 104,000 retired teachers.

THIS IS THE YEAR!!1!™