BlackBerry deals with Canadian consortium for about 4.7 billion dollars

The Securities Times Network (www.stcn.com) September 24 News of the Beijing time September 24, according to the Washington Post, the BlackBerry Company announced in Monday that it had agreed to be Fairfax Financial Holdings Limited (Fairfax Financial Holdings) was bought at a price of 4.7 billion dollars. Fairfax is a financial holding company headquartered in Toronto, Canada. Financial profit and demand savings rate 1000% BlackBerry said it had signed a takeover agreement with Fairfax. It is reported that the latter currently holds about 10% of the shares of the BlackBerry. The recent BlackBerry launch of the new handset market is not smooth, disappointing results, led to the BlackBerry last month set up a special committee to consider the company's future strategic choice. It was the Commission's recommendation to sign a takeover deal with Fairfax. Last week, the BlackBerry announced it would cut 4,500 employees, accounting for about 40% of its workforce, and issued an earnings alert, saying the company's losses would close to $1 billion in the second quarter of this year. The BlackBerry's Special committee said it was currently in the "wait-and-see" period for the offer from the Fairfax consortium, during which time the BlackBerry would consider whether there were alternatives. "Importantly, the wait-and-see period offers an opportunity to consider whether there are more appropriate alternatives to the current Fairfax Consortium's offer," Barbara Stymiest, chairman of the BlackBerry board, said in a statement Barbara Lustimiste. "Previously, the Wall Street Journal reported that the co-founder of the BlackBerry, former United CEO Maiklorazaridis Mike (Lazaridis) has also teamed up with private holding companies, may offer a bid proposal. If a takeover offer by the Fairfax is approved by shareholders, it would privatize the BlackBerry and remove pressure from shareholders, as the company tries to focus on a renewed focus on the business and government consumer markets and on cutting equipment product lines. "We believe the deal will usher in an exciting new chapter for the BlackBerry and its customers, operators and employees," Prem Watsa, chairman and CEO of Fairfax, said in a statement Premluvatsa. We can deliver value directly to our shareholders, and we will continue to implement the BlackBerry's long-term strategy as a private company focused on delivering excellent and secure corporate solutions to global consumers. ”