0
Wireless

FairFax-led group signs LoI to acquire BlackBerry

Monday 23 September 2013 | 21:22 CET | News
BlackBerry has signed a letter of intent to sell the company to a consortium led by Canadian insurance firm FairFax Financial. Under the terms of the agreement, BlackBerry shareholders will receive USD 9 in cash for each share of BlackBerry they hold, valuing the deal at USD 4.7 billion. FairFax already owns around 10 percent of BlackBerry's common shares and will contribute them into the transaction. During the due diligence and regulatory approval period, lasting until 04 November, BlackBerry will be able to actively solicit, receive, evaluate and potentially enter into negotiations with

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.

Subscriptions

Already registered?



Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Categories: Mobile & Wireless
Companies: BlackBerry
Countries: Canada / World
::: add a comment

Add comment

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

BlackBerry completes debt restructuring

Published 08 Sep 2016 10:53 CET | World
BlackBerry announced that it completed the redemption of all of its 6 percent unsecured convertible debt on 02 September. None of ...

BlackBerry abandons sale, CEO steps down

Published 04 Nov 2013 15:39 CET | World
BlackBerry has abandoned plans to sell the company and instead agreed a new investment and management team led by its largest ...

BlackBerry approaches Facebook on acquisition - report

Published 30 Oct 2013 09:19 CET | World
BlackBerry executives flew to California to meet with Facebook last week to gauge its interest in a potential bid for the ...

Lenovo considers bid for BlackBerry - report

Published 18 Oct 2013 09:12 CET | World
Lenovo is actively considering a bid for all of BlackBerry, people familiar with the matter told the Wall Street Journal. Bids ...

BlackBerry pledges customer support in open letter

Published 15 Oct 2013 09:57 CET | World
BlackBerry has published an open letter to customers in major newspapers around the world to reassure them the company will ...

BlackBerry co-founders consider takeover bid

Published 11 Oct 2013 09:00 CET | World
BlackBerry co-founders Mike Lazaridis and Doug Fregin are considering a joint bid to acquire the smartphone maker. They disclosed ...

Cisco, Google, SAP eye BlackBerry acquisition - report

Published 07 Oct 2013 11:54 CET | World
BlackBerry is in talks with Cisco, Google and SAP about selling them all or parts of itself, Reuters reports, citing unnamed ...

BlackBerry attracts more interested suitors - report

Published 03 Oct 2013 09:13 CET | World
Investor Cerberus Capital Management could be interested in BlackBerry, the Wall Street Journal reported, citing people familiar ...

BlackBerry disappointed by Q2 results as revenue falls 49%

Published 27 Sep 2013 16:48 CET | World
BlackBerry has reported revenue of USD 1.6 billion for the second quarter ending 31 August, down 49 percent from USD 3.1 billion ...

BlackBerry pauses global roll-out of BBM for Android, iPhone

Published 23 Sep 2013 11:13 CET | World
BlackBerry has issued an update on the launch of BBM for Android. It posted an unreleased version of the app online, attracting ...

BlackBerry cuts 4,500 jobs and streamlines portfolio

Published 21 Sep 2013 23:20 CET | World
Blackberry said it will cut approximately 4,500 jobs and streamline its smartphone portfolio from six to four devices. It will ...

BlackBerry unveils 5-inch Z30 smartphone, 10.2 OS

Published 18 Sep 2013 11:37 CET | World
BlackBerry has unveiled a new high-end smartphone called the Z30. Featuring a 5-inch touchscreen and top-of-the-range components, ...

Fairfax eyes Blackberry deal with Canadian funds - report

Published 10 Sep 2013 10:27 CET | World
BlackBerry's biggest shareholder has approached several large Canadian investment funds about forging a deal to take the ...

BlackBerry gooit alle kaarten open, sluit verkoop niet langer uit

Published 13 Aug 2013 09:35 CET | World
Het lijkt er nu definitief op dat BlackBerry definitief de handdoek in de ring gooit door een commissie in het leven te roepen ...

BlackBerry worries not over as customer loyalty erodes

Published 29 Mar 2013 12:00 CET | World
BlackBerry has surprised with a small profit in its latest quarter and a good start with the new Z10 smartphone. However, the ...

Watsa boost stakes in RIM to 9.9%

Published 24 Jul 2012 09:57 CET | World
Fairfax Financial Holdings, a Toronto-based financial services group run by the Canadian investor Prem Watsa, has become Research ...

RIM names new CEO, chairman

Published 23 Jan 2012 08:41 CET | World
Research In Motion has bowed to pressure from shareholders and reformed its management structure. Co-CEOs Jim Balsillie and Mike ...