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Thread: BlackBerry to Be Sold for $4.7 Billion

  1. #1
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    Default BlackBerry to Be Sold for $4.7 Billion

    Yep,... As was Expected

    BlackBerry has agreed to sell itself for $4.7 billion to a group led by largest shareholder, Fairfax Financial Holdings Ltd.

    BlackBerry said Monday that a letter of intent has been signed and its shareholders will receive $9 in cash for each share.

    Fairfax head Prem Watsa is a former board member who owns 10% of BlackBerry. Watsa stepped down when BlackBerry announced it was considering a sale last month.

    "We believe this transaction will open an exciting new private chapter for BlackBerry its customers, carriers and employees," Watsa said in a statement. "We can deliver immediate value to shareholders, while we continue the execution of a long-term strategy in a private company.

    BlackBerry said its board of directors approved the terms of the letter of intent. The statement said BlackBerry and Fairfax will negotiate and execute a definitive transaction agreement by Nov. 4.

    Watsa said in April that he's a "big supporter" of current CEO Thorsten Heins and called his promotion the right decision in early 2012. He also said he's excited about the company's new BlackBerry 10 operating system.


    http://crackberry.com/fairfax-financ...rry-47-billion
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  2. #2
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    Worthless.....................
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