Canada’s largest telephone company, BCE Inc., has agreed to pay $3 billion to acquire Montreal-based television and radio broadcaster Astral Media, BCE announced Friday.
BCE will pay $50 per share for Astral’s Class A shares, a 38 percent premium over the target’s Thursday closing price, while paying roughly $201 million for all remaining shares. BCE will also assume $380 million in Astral debt. The deal is subject to shareholder and regulatory approvals, with a shareholder vote to be held before May 25.
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