For the first time in almost 31 years, the Canadian dollar — colloquially called the loonie — reached parity with the U.S. dollar. It's not just notable for economic and political reasons, but for dealmaking too because now the largest leveraged buyout in history, the acquisition of BCE, has basically grown. When the C$51.7 billion deal was initially announced in June, it was a $48.5 billion price tag. Now, with the two currencies at parity, not only is the deal the largest LBO ever, but the first to break the $50 billion barrier. Odds are, no one expected such a milestone amid the current credit crunch. —Matthew Wurtzel
See story about currencies from The Globe & Mail
See BCE buyout announcement from TheDeal.com
Tags private+equity
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