Telecom and media giant BCE Inc. says it will buy Canadian home security service AlarmForce Industries Inc. in a deal worth about $166 million.
George Cope, CEO of BCE and Bell Canada, says the acquisition will allow Bell to leverage its network in millions of Canadian homes in order to grow its position in security and automation services.
The deal will see BCE purchase all issued and outstanding common shares of AlarmForce (TSX:AF) for $16.00 per in an all-cash offer.
OBJ360 (Sponsored)
Is your biz or IT consultant your employee? Time to check the fine print, says government of Ontario
The ESA has a new exemption, and the OHSA is addressing the risk of opioid overdoses for workers on the job.
Ottawa’s tourism industry took a bit hit during the pandemic, but the federal government is helping some businesses and organizations get back on their feet
AlarmForce says the purchase price represents a 71 per cent premium to its closing share price of $9.34 on Nov. 6 and a 70 per cent premium to the 20-day volume weighted average price for the period ending Nov. 6.
Shareholders may also elect to receive BCE common shares (TSX:BCE) in lieu of cash, subject to proration and capped at 49.5 per cent of the total equity value.
Subject to customary closing conditions, the transaction is expected to be completed in January.
