Fairfax & group buying Blackberry - Deal called off

[Sushubh]

Fairfax Financial is the largest stockholder in the company. I assume this means that BB would go private (like Dell) and Fairfax Financial would sell BB in parts to various buyers hoping to make a profit from the deal.
https://broadband.forum/blackberry-announces-decision-sell-group-led-fairfax-financial-46524/

 

[SVK]

Fairfax group is led by Indian
As said above, I guess main motive of this group to purchase BB and sell it rather then running it. No perhaps no reason to celebrate for BB fans.

 

[Sushubh]

We are likely to see a bunch of patent lawsuits coming up from Fairfax subsidiaries in the coming months.

 

[mhsabir]

http://www.berryreview.com/2013/11/04/blackberry-gets-1-billion-investment-no-longer-looking-for-buyers-ceo-steps-down/

Fairfax is not moving forward with their acquisition for $9 a share but is rather investing $1 billion additional funds in BlackBerry as a long term investment. On top of that BlackBerry is staying public and has concluded their search for possible buyers.

They have also decided that current CEO Thorsten Heins is stepping down as of today.Thankfully BlackBerry is also shaking up its board of directors. John S. Chen will be appointed Executive Chair and Interim CEO while Fairfax CEO Prem Watsa will be appointed Lead Director. Chen was the CEO and chairman of Sybase before they were aquired by SAP and was responsible for their turnaround.

Live today. Fight (Die) tomorrow?

 

[yashleo21]

^YOLO