Blackberry, once dominant smartphone maker, announced Monday that it will be sold to its largest shareholder, Canadian firm Fairfax Financial, in deal worth about $4.7 billion. Shareholders will receive $9 per share, according to public statement, Slight premium on the stock’s $8.23 price when trading was halted Monday afternoon. Fairfax, which owns 10% of Blackberry, agreed to purchase BB after a period of due diligence that is expected to end by Nov. 4. Blackberry can accept a better offer in the meantime. Blackberry announced on Friday that it was planning to cut 4,500 jobs in the face of nearly $1 billion in expected losses.
Posted on: Mon, 23 Sep 2013 19:15:21 +0000
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