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BLACKBERRY HAS ANNOUNCED it agreed to a $4.7 billion (€3.5 billion) buyout by a consortium of investors who plan to take the struggling Canadian smartphone maker private.
The company said in a statement that it has “signed a letter of intent agreement under which a consortium to be led by Fairfax Financial Holdings Limited has offered to acquire the company subject to due diligence.”
Fairfax, a Canadian firm, is already BlackBerry’s largest shareholder with approximately 10 per cent of its shares.
Under the proposed deal the consortium would offer $9 (€6.70) for each outstanding share, and Fairfax would contribute its own shares in the transaction.
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BlackBerry said its board of directors said support the plan.
A firm deal, once due diligence is completed, is expected to be announced by November 4. It hinges also on the consortium obtaining financing.
BlackBerry said it would continue a search for a possibly better suitor in the interim.
On Friday, the company announced it was laying off 40 per cent of its workforce after a dismal launch of new smartphones earlier this year.
Ridiculous attempt at a dramatic headline. There’s been no assertion that red deer could be introduced to the park. Minister was asked would he do it, he said he didn’t know if was possible so he’d refer the question to officials.
You’d swear there was a task force working on the issue or trying to figure it all out. A by and by question asked and by and by answer provided.
At least it might make drivers stick to the speed limit, hit a fallow deer and it costs a few hundred to repair hit a red deer and it’s a write off, don’t think it would happen, they are more wild than tame. Would be nice for tourism if they don’t leave Dublini to see the real Ireland.
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