BlackBerry Ltd is abandoning a plan to sell itself and instead - TopicsExpress

BlackBerry Ltd is abandoning a plan to sell itself and instead will replace its chief executive officer and raise about $1 billion from institutional investors, including its largest shareholder. Shares in BlackBerry dropped 19 per cent to $6.33 in pre-market trading. The company will raise the money with a private placement of convertible debentures. BlackBerrys largest shareholder, Fairfax Financial Holdings Ltd, will take up $250 million of the debentures.

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