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Blackberry Businesses

BlackBerry Will Sell Itself For $4.7 Billion 149

Posted by samzenpus
from the circle-of-business dept.
Nerval's Lobster writes "A consortium led by financial-holding company Fairfax Financial has agreed to acquire BlackBerry for $4.7 billion. Under the terms of the agreement, Fairfax Financial will acquire every BlackBerry stock-share it doesn't already own. Further details are pending, including future management structure and whether BlackBerry will continue with its stated intent to lay off thousands of employees over the next few months. 'The Special Committee is seeking the best available outcome for the Company's constituents, including for shareholders,' Barbara Stymiest, chair of BlackBerry's Board of Directors, wrote in a statement. 'Importantly, the go-shop process provides an opportunity to determine if there are alternatives superior to the present proposal from the Fairfax consortium.' A special committee formed by BlackBerry's Board of Directors had spent the past few weeks looking for a potential acquirer. BlackBerry has seen its market-share crumble as businesses and consumers embrace rivals such as Apple's iPhone and Google Android devices."
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BlackBerry Will Sell Itself For $4.7 Billion

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