BLACKBERRY SALE? FAIRFAX CONSORTIUM OFFERS $4.7 BILLION FOR TROUBLED MOBILE COMPANY By Trevor Mogg — September 24, 2013 ADD A COMMENT 13 2 2 BlackBerry Q10 review blackberry logo It looks like BlackBerry may have a buyer. The troubled mobile maker announced Monday it had signed a letter of intent to sell to a consortium led by Fairfax Financial – currently its largest shareholder with around 10 percent of the company – in a deal worth $4.7 billion. BlackBerry said earlier this month it was keen to get the company sold off by November, with recent bad news concerning job cuts and a grim financial forecast making the matter all the more urgent. However, the deal with Toronto-based Fairfax is not yet signed and sealed, with a diligence period in effect until November 4. In the intervening weeks, BlackBerry “is permitted to actively solicit, receive, evaluate and potentially enter into negotiations with parties that offer alternative proposals”, the mobile company said in a statement. The proposed takeover involves Fairfax offering $9 a share to buy the 90 percent portion of the company it doesn’t currently own. Shares in BlackBerry are currently going for $8.82, a million miles from the $148 peak in June 2008 when the Waterloo, Ontario company led the mobile market. Read more: digitaltrends/mobile/blackberry-sale/#ixzz2fsBywbcf Follow us: @digitaltrends on Twitter | digitaltrendsftw on Facebook
Posted on: Wed, 25 Sep 2013 03:52:31 +0000
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