BlackBerry As A Company To Sell For $4.7 Billion

It looks like BlackBerry’s series of unfortunate events isn’t about to come an end yet. After the disastrous rollout of BBM for Android and iOS last week which resulted to disappointed customers and an announcement of around 4,500 job cuts, the Canadian company has now received an offer for a buyout with a consortium led by Fairfax Financial Holdings Ltd.

 

It looks like BlackBerry’s series of unfortunate events isn’t about to come an end yet. After the disastrous rollout of BBM for Android and iOS last week which resulted to disappointed customers and an announcement of around 4,500 job cuts, the Canadian company has now received an offer for a buyout with a consortium led by Fairfax Financial Holdings Ltd.

The buyout is reportedly valued at $4.7 billion with each share valued at $9, although BlackBerry said that it is not in exclusive talks with Fairfax and that the company is still actively soliciting, receiving and evaluating offers from other potential buyers.

Fairfax Financial Holding Ltd. currently has a 10% stake in BlackBerry and has several partners who have opted to remain anonymous until the deal is completed. If all turns out okay, the final agreement is expected to be signed on November 4.

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