After the struggling smartphone maker threw in the towel and announced its plans to go private, the man behind the buyout proposal, Prem Watsa, says he's confident the deal will succeed.
The $4.7 billion deal to take BlackBerry private is dead, and Thorsten Heins is headed for the exit. Now BlackBerry plans to raise $1 billion selling convertible notes to investors.
Thorsten Heins will step down as the head of BlackBerry, as the US$4.7 billion buyout from Fairfax Financial Holdings falls through.
Current suitor Fairfax Financial Holdings may not be able to raise enough cash to buy the company as a whole, says Bloomberg.
BlackBerry shareholders would receive $9 a share in the deal offered by a group led by Fairfax Financial Holdings.
As the deadline approaches for Fairfax Financial to firm up its offer for BlackBerry, the two companies are jumping into the ring with co-founders Mike Lazaridis and Doug Fregin, The Wall Street Journal reports.
BlackBerry has agreed to a buyout by Toronto-based financial holding company Fairfax Financial Holdings, which owns about 10 per cent of the mobile company's shares.
The buyout offer floated might be replaced with a deal that could come in around $7 per share, according to some analysts.
The sale represents the majority of its real estate holdings in Canada. BlackBerry's not saying how much cash it'll take in from the transaction.
LinkedIn has played an unlikely part in uncovering two men allegedly behind a AU$7 million insider trading scandal involving one of Australia's leading banks.