Not a lot of news on this one yet, and I’m building it off of a tweet here, so I’ll update when we have more info.
Looks like BB is going to be acquired:
BlackBerry agrees to be acquired by a group led by Fairfax Financial Holdings for $4.7 billion. http://t.co/JL1Y5syX6q
— CNNMoney.com (@CNNMoney) September 23, 2013
Pretty much all we know right now.
***UPDATE!***
It’s official. Blackberry is going private.
Prem Watsa, Chairman and CEO of Fairfax, said:
“We believe this transaction will open an exciting new private chapter for BlackBerry, its customers, carriers and employees. We can deliver immediate value to shareholders, while we continue the execution of a long-term strategy in a private company with a focus on delivering superior and secure enterprise solutions to BlackBerry customers around the world.”
Fairfax Financials has 6 weeks to conduct due diligence. Stock holders would receive $9 per share in cash (stock currently trading at 8 points).
Official Blackberry press release after the jump.