Filed under: Deals, Private equity, CanadaBCE Inc. (NYSE: BCE), the big Canadian phone company, is being bought out by the Teachers Private Capital, the private investment arm of the Ontario Teachers Pension Plan, Providence Equity Partners Inc., and Madison Dearborn Partners, LLC. Private equity comes to Canada. The price was over $48 billion.The price is virtually no premium to the current value. The stock trades at $38. The rationale for this is that BCE's shares have risen about 40% since rumors about a buyout began to circulate in the spring. According to the company's PR statement: "The transaction values BCE at 7.8 times EBITDA (earnings before interest, taxes, depreciation, and amortization) for the 12-month period ending March 31, 2007."This is just the kind of transaction that institutional shareholders ...