Tuesday, 06 December 2016

BlackBerry to sell to Fairfax-led consortium for $4.7bn

By Nick Wood, Total Telecom
Tuesday 24 September 13

Canadian smartphone maker open to rival offers until 4 November; special committee says Fairfax deal is best outcome for shareholders.

BlackBerry is set to go private after agreeing to a $4.7 billion buyout offer from a consortium led by Fairfax. The Canadian smartphone maker has signed a letter of intent agreement under which the private equity group will acquire for cash all outstanding BlackBerry shares not currently owned by Fairfax, which already holds 10% of the company's common stock. The transaction is subject to a due diligence period that will run until 4 November…

BlackBerry is set to go private after agreeing to a $4.7 billion buyout offer from a consortium led by Fairfax. The Canadian smartphone maker has signed a letter of intent agreement under which the private equity group will acquire for cash all outstanding BlackBerry shares not currently owned by Fairfax, which already holds 10% of the company's common stock. The transaction is subject to a due diligence period that will run until 4 November…

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