BCE Plunges Most in 25 Years as Buyout in Jeopardy

BCE Inc. plunged the most in 25 years in Toronto trading as investors bet the Canadian phone company's record C$52 billion ($52.9 billion) leveraged buyout will collapse or be renegotiated at a lower price.

BCE fell 12 percent after bondholders won an unexpected court ruling yesterday, letting them challenge the buyout because BCE didn't take their interests into account. BCE agreed to a C$42.75-a-share offer from a group led by the Ontario Teachers' Pension Plan in June.