Arab Today, arab today blackberry agrees to 47 billion buyout
Last Updated : GMT 18:20:30
Arab Today, arab today
Arab Today, arab today

Agreement sets up to Fairfax Financial

BlackBerry agrees to $4.7 billion buyout

Arab Today, arab today

Arab Today, arab today BlackBerry agrees to $4.7 billion buyout

Blackberry logo at International CTIA Wireless convention in Las Vegas
Toronto - Arab Today

Blackberry logo at International CTIA Wireless convention in Las Vegas Canadian smartphone developer BlackBerry, formerly Research in Motion, said it had signed an agreement to sell itself for $4.7 billion to Fairfax Financial. Fairfax Financial Holdings has agreed to an all-cash deal valued at U.S. $9 for each BlackBerry share it does not already own. Fairfax Financial, based in Toronto, already owns 10 percent of BlackBerry, the companies said in a statement.
The agreement sets up a \"go shop\" period of six weeks in which BlackBerry can entertain better offers.
The deal is contingent on a process of due diligence, negotiations and execution of a definitive agreement and approval by regulators, the companies said.
A special committee set up by the BlackBerry board to seek alternative corporate strategies \"is seeking the best available outcome for the company\'s constituents, including for shareholders,\" said BlackBerry Chairwoman Barbara Stymiest.
\"Importantly, the go-shop process provides an opportunity to determine if there are alternatives superior to the present proposal from the Fairfax consortium,\" she said.
Coincidentally, Apple Inc., one of the companies that now dominates the smartphone market that BlackBerry pioneered, announced Monday it had sold 9 million of its latest iPhone devises, which went on sale Friday in 11 markets around the world.
Last week, news reports said BlackBerry had plans to cut up to 40 percent of its workforce of 12,700.
Source: UPI

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today blackberry agrees to 47 billion buyout Arab Today, arab today blackberry agrees to 47 billion buyout

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today blackberry agrees to 47 billion buyout Arab Today, arab today blackberry agrees to 47 billion buyout

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today How to do your own Ramadan corner?

GMT 15:53 2017 Saturday ,27 May

How to do your own Ramadan corner?
View News in Arabic - Business: أخبار الأعمال
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday