After Nokia selling its handset operations to Microsoft, its time for struggling BlackBerry to sell off the business to Fairfax Financial. The deal has been signed for $4.7bn (£3bn).
The company said it has “signed a letter of intent agreement under which a consortium to be led by Fairfax Financial Holdings Limited has offered to acquire the company subject to due diligence”.
The statement continued: “Diligence is expected to be complete by November 4, 2013. The parties’ intention is to negotiate and execute a definitive transaction agreement by such date.” reported bbc.co.uk.
- BlackBerry Agrees to be Acquired by FairFax Financial Holdings (theepochtimes.com)
- BlackBerry Agrees To Go Private For $4.7 Billion (businessinsider.com)
- BlackBerry Plans To Go Private In $4.7B Deal With Fairfax Financial Holdings (m.deadline.com)