Man, this one has been a bumpy ride, and oddly enough, it's not even over. Well, it's over, but not over. The back-and-forth over whether or not BCE would be bought out has come to an abrupt halt, as auditor KPMG "determined that the company-to-be wouldn't pass a solvency test required as a condition of closing the deal." On the table was a $42.75-a-share cash offering by a group led by the Ontario Teachers' Pension Plan, but all that's lost now. According to BCE Acquisition Group: "Because KPMG has concluded that a required test for the solvency opinion was not met, this mutual condition to completion of the acquisition could not be, and was not, satisfied." Here's where things get wonky; BCE is now vigorously attempting to procure a $1.2 billion "breakup fee" that the Teachers group doesn't agree with. We're still waiting to see if BCE will initiate litigation, but you can bet said Teachers organization ain't scared.

[Via mobilesyrup]

Funny story -- we pretty much heard this exact same rumor floating around last August, but given the current economic situation, we're inclined to believe this one a good bit more. A recent Reuters report is pointing out that RIM (like practically every other company right about now) is ripe for the picking, and any outfit with a serious load of cash reserves could get themselves quite a bargain. Given that the Redmond mega-corp has shown interest before (and clearly has plenty of Greenbacks), we were particularly interested in Canaccord Adams analyst Peter Misek's quote: "I'm fairly certain [Microsoft] has a standing offer to buy [RIM] at $50 a share." If you'll recall, RIM's stock sat at $148 per share just four months ago, and now, it's hovering around $60. As expected, Microsoft had no comment on the report, but don't be surprised to see something go down if Wall Street keeps hemorrhaging.

[Via Electronista]

Ooh, in your face, MetroPCS! Leap Wireless has rejected a multi-billion dollar stock swap proposed by its fellow regional carrier a couple weeks ago, citing... well, to be brief, a bum deal. MetroPCS was looking to trade each share of Leap for 2.75 shares of its own stock, a formula that actually values Leap at about $4.7 billion -- significantly below the $5.3 billion pegged the day merger discussions kicked off. Leap CEO Doug Hutcheson officially responded to the offer today, bluntly stating that it "dramatically undervalues" his company while citing Leap's strong growth, its prospects for future buildouts, and MetroPCS' infrastructure troubles in New York and Los Angeles as reasons why his shareholders deserve more bang for their buck. That being said, Hutcheson left room for further discussions; an eventual deal makes sense, considering that the two carriers' combined footprint would approximate that of a national carrier. Can MetroPCS pony up the requisite cash to be taken seriously here?

Alright, Palm, your days of making incrementally improved, merely evolutionary Treos may finally be numbered. Or not, depending on how your new owner wants to roll, but either way, rumors have now gone from a simmer to a full boil that a Palm sale is imminent. Like, seriously imminent -- Morgan Stanley, which Palm hired to court suitors, allegedly wants to get a deal sealed by March 22. The company -- which rose to stardom as a division of USRobotics and 3Com and made a huge splash in the then-budding smartphone market -- is now a shadow of its former self thanks largely to a split which saw its software division ultimately getting bought by Japan's ACCESS. Be that as it may, word has it the sale should command $20 a share -- a healthy premium over Palm's recent pricing -- and at least four companies are rumored to have interest: Nokia (could we finally see that Symbian-powered Treo?), Motorola, and a pair of private investment firms. We wish you the best of luck, Palm; there's definitely a certain sentimental value associated with your name these days, and we hope your new owners do what it takes to get you back on the straight and narrow. Keep pluggin' away at that WiMAX handset!