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-   -   Fairfax makes a play for BlackBerry (http://www.blackberryforums.com/showthread.php?t=265233)

ZombieBerry 09-23-2013 12:49 PM

Fairfax makes a play for BlackBerry
 
Fairfax Bids For BlackBerry: $4.7 Billion Offered For Struggling Smartphone Maker

A consortium led by Fairfax Financial Holdings has offered to buy BlackBerry Ltd. Toronto-based Fairfax is offering US$9 cash for each share it doesn't already own, in a deal that values BlackBerry at about US$4.7 billion.

The $9 U.S. a share bid offers shareholders only a slight premium from the last price, $8.48, before trading was halted Monday afternoon.

Fairfax Financial is an investment company already owns a 9.9 per cent stake in the company. Its CEO, Prem Watsa, who has been called "Canada's Warren Buffet" recently resigned from BlackBerry's board of directors.

Source: huffingtonpost.ca

ZombieBerry 09-23-2013 01:02 PM

Re: Fairfax makes a play for BlackBerry
 
Apparently, the deal is done.

Fairfax strikes $4.7-billion deal to buy BlackBerry - The Globe and Mail

Fairfax Financial Holdings Ltd. has put together an equity consortium that is seeking to take BlackBerry Ltd. private for $9 (U.S.) a share, a deal valued at about $4.7-billion.

BlackBerry is giving the group six weeks to conduct due diligence, with a final agreement expected by Nov. 4. BlackBerry is able to look for alternative offers in the meantime, but the Fairfax group has a right to match them. Fairfax's equity partners want to remain anonymous until the due diligence is completed.

Source: Home - The Globe and Mail

fourstringfuror 09-23-2013 01:17 PM

Re: Fairfax makes a play for BlackBerry
 
Best news about BlackBerry in years.

aiharkness 09-23-2013 06:22 PM

Re: Fairfax makes a play for BlackBerry
 
Deal isn't quite done, but probably will be eventually, provided the buyers are successful raising financing and there are no surprises.

NJBlackBerry 09-23-2013 10:11 PM

Re: Fairfax makes a play for BlackBerry
 
There are quite a few contingencies in the deal, including six weeks for due diligency, BBRY has the right to shop the company around, and Fairfax has to line up financing!

Escorts 09-24-2013 12:10 AM

Re: Fairfax makes a play for BlackBerry
 
I think this transaction should not really affect customers since the company will still exist and still sell hardware, software and services.

dc/dc 09-24-2013 08:34 AM

Re: Fairfax makes a play for BlackBerry
 
Quote:

Originally Posted by Escorts (Post 1808110)
I think this transaction should not really affect customers since the company will still exist and still sell hardware, software and services.

It absolutely will affect the few customers that are left. Whether the effects are good or bad remains to be seen.

The Prophet 09-26-2013 12:20 PM

Re: Fairfax makes a play for BlackBerry
 
This is not a done deal yet -- There could be other suitors, or Fairfax could walk away

4.7 Billion is a high valuation for a company with a deteriorating market share with little or no hope of regaining it

It remains to be seen what Fairfax will do with RIM. This could really be the beginning of the end, especially if there is no Plan B

NJBlackBerry 09-26-2013 01:24 PM

Re: Fairfax makes a play for BlackBerry
 
Deal is most certainly not done, as reflected in the current stock price.
Watsa is contributing his 10% of the company, but won't invest any more.
Due diligence may reveal that the company isn't worth $9/share.
He can walk away with no penalty.
If BBRY finds another suitor, he gets $157mm.


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