TELECOM Blackberry Agrees To Go Private in $4.7 Billion Deal By - TopicsExpress



          

TELECOM Blackberry Agrees To Go Private in $4.7 Billion Deal By Noah Rayman Sept. 23, 2013 Blackberry, the once dominant smartphone maker, announced Monday that it will be sold to its largest shareholder, the Canadian firm Fairfax Financial, in a deal worth about $4.7 billion. Shareholders will receive $9 per share, according to the public statement, a slight premium on the stock’s $8.23 price when trading was halted Monday afternoon. Fairfax, which owns 10% of Blackberry, agreed to purchase the company after a period of due diligence that is expected to end by Nov. 4. Blackberry can accept a better offer in the meantime. Blackberry announced on Friday that it was planning to cut 4,500 jobs in the face of nearly $1 billion in expected losses.
Posted on: Mon, 23 Sep 2013 22:59:04 +0000

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