News Articles

Monday, September 23, 2013

Potential takeover deal in place for BlackBerry

BlackBerry has signed a ‘letter of intent’ agreement that could see a consortium led by Canadian shareholder Fairfax Financial Holdings Limited acquiring the company. Fairfax, which currently owns around 10% of BlackBerry shares, would pay around $4.7 billion (£2.9 billion) for the remainder of the business.

Although BlackBerry’s board of directors has approved the terms of the agreement, it’s still able to consider alternative proposals as well.

Preliminary checks by Fairfax are expected to be completed by 4th November.


Prem Watsa, Chairman and CEO of Fairfax, said “We believe this transaction will open an exciting new private chapter for BlackBerry, its customers, carriers and employees. We can deliver immediate value to shareholders, while we continue the execution of a long-term strategy in a private company with a focus on delivering superior and secure enterprise solutions to BlackBerry customers around the world.”

In August, when BlackBerry announced that it was looking at the possibility of a sale, Prem Watsa resigned from his position as a BlackBerry board member to avoid any potential conflict.

Author: The Fonecast
Rate this article:
No rating

Categories: Handsets and manufacturers, Operating systems, NewsNumber of views: 5594

Tags: canada blackberry

Leave a comment

This form collects your name, email, IP address and content so that we can keep track of the comments placed on the website. For more info check our Privacy Policy and Terms Of Use where you will get more info on where, how and why we store your data.
Add comment


Twitter @TheFonecast RSS podcast feed
Find us on Facebook Subscribe free via iTunes

Archive Calendar

«November 2022»


Terms Of Use | Privacy Statement