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Mid-Day Market Update: Oil Futures Tumble For Third Day in a Row; BlackBerry Shares Decline
2013-09-24 00:26:45| Semiconductors - Topix.net
Midway through trading Monday, the Dow traded down 0.32 percent to 15,401.45 while the NASDAQ declined 0.59 percent to 3,752.48.
BlackBerry to Go Private in $4.7 Billion Takeover Deal
2013-09-23 22:34:39| PC Magazine Cell Phones Product Guide
BlackBerry on Monday announced plans to sell its business to a consortium led by Fairfax Financial Holdings Limited, which will take the troubled phone maker private in a $4.7 billion deal.
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BlackBerry to be acquired by consortium led by Fairfax
2013-09-23 21:22:00| Telecompaper Headlines
(Telecompaper) BlackBerry has signed a letter of intent to sell the company to a consortium led by Fairfax Financial Holdings. Under the terms of the agreement, BlackBerry shareholders will receive USD 9 in cash for each share of BlackBerry they hold, valuing the deal at USD 4.7 billion. The consortium would acquire for cash all of the outstanding shares of BlackBerry not held by Fairfax. Fairfax already owns around 10 percent of BlackBerry's common shares and will contribute the shares of BlackBerry it currently holds into the transaction. The deal is subject to due diligence, negotiation, execution of a definitive agreement and customary regulatory approvals. Diligence is expected to be complete by 04 November, with the parties aiming to negotiate and execute a definitive agreement by this date. During this period, BlackBerry will be able to actively solicit, receive, evaluate and potentially enter into negotiations with parties that offer alternative proposals. This is subject to payment of a termination fee in the event an alternative offer being accepted.
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Canada's Fairfax offers to acquire BlackBerry in $4.7 billion deal
2013-09-23 20:30:38| InfoWorld: Top News
A consortium led by Canada's Fairfax Financial Holdings has offered to acquire struggling smartphone maker BlackBerry. The proposed deal, which is supported by BlackBerry's board of directors, values the company at $4.7 billion.
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BlackBerry shares continue to fall amid analyst downgrades, operational woes
2013-09-23 20:15:48| Telecom - Topix.net
BlackBerry's plan to slash its workforce by some 40 per cent and take a nearly $1-billion writedown after disappointing sales of its Z10 smartphones, could help make it more attractive to a potential buyer, analysts said Monday.
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