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Selling Price For The Canadiens - Around $400M
by Paul on 06/11/09 at 10:02 AM ET
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from Sean Gordon and Andrew Willis of the Globe and Mail,
Talks surrounding an eventual sale of the Montreal Canadiens are building to a final crescendo: As of the close of business yesterday, all formal offers were to be lodged with the investment bank steering the bidding process…
Financial sources told The Globe and Mail that each of the three known bidders has already secured at least $200-million in bank financing to help push a deal through.
According those familiar with the process, Péladeau’s group is expected to make the richest opening bid, in excess of $420-million.
But sources suggest a Molson family bid – which is believed to be supported by telecom behemoth BCE Inc. – could carry the day, even if it is closer to $400-million, given the family’s long-standing NHL ties and the fact Molson Coors already owns 19.9 per cent of the team.
Filed in: NHL Teams, Montreal Canadiens | KK Hockey | Permalink
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