BlackBerry deals with Canadian Fairfax Financial Holdings, selling a total of $4.7 billion

"Science and technology News" September 24, according to foreign media reports, the BlackBerry Company issued a Monday announcement that has been with the Canadian Fairfax Financial Holdings Limited (Fairfax Financial Holdings) to reach a takeover agreement, Fairfax will be 9 dollars per share, The total price of about 4.7 billion dollars buys the BlackBerry company.

Currently, Fairfax holds about 10% per cent of the BlackBerry, and if the acquisition succeeds, the BlackBerry will privatize and reduce pressure from shareholders to refocus its efforts on the business and government consumer markets. "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 Prem Vatesa. 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. ”

Last week, the BlackBerry Company issued a performance warning, expected to lose 1 billion dollars in the second quarter, and announced a layoff of 4500 people. The BlackBerry's share price fell 17.06% on the day, closing at $8.73, while the top decline was close to 24%.

While BlackBerry and Fairfax have signed a letter of intent, other bidders may emerge before the deal is officially reached. Both sides said the deal was expected to end on November 4 due to due diligence and agreement, during which BlackBerry could look for a better offer. "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 Stemester. ”

Earlier this month, Nokia, another fallen handset maker, was bought by Microsoft in 7.17 billion dollars, a deal expected to be completed in the first quarter of 2014, with approval from Nokia shareholders and relevant agencies.