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Old 09-23-2013, 12:49 PM   #1
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Default Fairfax makes a play for BlackBerry

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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.

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