Filed under: Private equity, Canada, TXU Corp (TXU)It's been a long process, but there's finally a deal. BCE (NYSE: BCE), which is the largest telecom company in Canada, has agreed to a $48.82 billion deal. The buyers include the Ontario Teachers Pension Plan, Providence Equity Partners, and Madison Dearborn Partners.And, yes, it's the biggest buyout in Canada's history. It's even bigger than the TXU (NYSE: TXU) deal. The transaction involved several other potential suitors, such as KKR and Cerberus Capital.Because of increased competition and slower growth, BCE was ripe for a buyout. It also helps that the company has juicy cash flows.So, by being a private company, BCE will have more leeway in making some key operational changes (such as layoffs and spin-offs).The biggest winners are BCE's shareholders. ...