On June 30, 2007, Bell Canada Enterprises (BCE) announced that the company entered into a definitive agreement for BCE to be acquired pursuant to a plan of arrangement by an investor group led by Teachers Private Capital, the private investment arm of the Ontario Teachers' Pension Plan, Providence Equity Partners Inc. and Madison Dearborn Partners. The all-cash transaction was valued at C$51.7billion (US$48.5 billion), including C$16.9 billion (US$15.9 billion) of debt, preferred equity and minority interests. The arrangement was approved on September 21, 2007, at a special meeting of shareholders by more than 97% of the votes cast by holders of common and preferred shares, voting as a single class.Privatization of BCE
