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Thread: BlackBerry to be acquired by a group led by Fairfax Financial

  1. #1
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    BlackBerry to be acquired by a group led by Fairfax Financial

    http://www.cnbc.com/id/101054768

    BlackBerry agreed in principal to be acquired by Fairfax Financial, a Canadian insurance company for $9 a share, in a deal that would total $4.7 billion US dollars.
    Shares of BlackBerry were halted prior to the announcement, and the company said the stock would resume trading at 2:00pm EST. Prior to the announcement shares in the troubled smartphone maker company were down more than 5 percent for the day.

    Fairfax Financial, sometimes called the Berkshire Hathaway of Canada, is a holding company whose primary business is in insurance. Fairfax is also BlackBerry's largest shareholder.

    It is led by Prem Watsa, a chemical engineer by training who has run the firm since the mid-1980s.

    The press-shy Watsa has long been a supporter of BlackBerry, and his name has been linked with a potential buyout for months.

  2. #2
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    This is about as good as it could be under the circumstances. I quite like the deal, Prem has been a BlackBerry booster for years, and if he can get some good people around him then the future looks pretty bright. As an aside, I'm one of the few who feels Torsten Heins did a not bad job considering what he was left to deal with. Shame BlackBerry couldn't figure out how to market the Z10 properly, it really is a good phone and BB10 is a solid OS. I can see it being dropped and a limited range of Z30, Q10, Q5 and a Z5 left to soldier on. After that, who knows.

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    Thanks Howards Forums for being there all this time for my questions and information

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