Jim Leech looked like a savvy dealmaker last summer. The chief executive of the $108 billion Ontario Teachers' Pension Plan had outmuscled private equity giants KKR and Cerberus Capital Management to land the biggest buyout ever. Now the $52 billion deal for Bell Canada parent BCE is in jeopardy as lenders push for more advantageous terms and bondholders try to block it via a case that will be heard by the Canadian Supreme Court on June 17. If the deal falls apart, the pension fund and its partners could be on the hook for as much as $1 billion.
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