You could be forgiven for holding your nose at today’s Globe headline out of the BCE takeover tango: “Cerberus vows to keep Sabia if bid succeeds”. And all of that without a trace of irony. Yes, that’s right – Cerberus “supports” BCE senior management, and it has everything to do with their stellar performance and nothing at all to do with the importance to the success of Cerberus’ bid of having Sabia onboard. And therein lies one of the true scandals of this kind of dance – the worse management does, the better it does. There will no doubt be sweet deals for senior BCE management in whatever deal is finally inked.
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