BlackBerry, the once-dominant maker of smartphones that fell on hard times in recent years, has found a suitor willing to pay $4.7bn for the troubled company.
Fairfax Financial, a Canadian firm that already owns 10% of BlackBerry, has agreed to join forced with an unnamed consortium of other buyers to acquire the company for $9 a share.
The move would take BlackBerry private, removing it from a public listing on Nasdaq, where stocks have fallen from a high of $148 in June 2008 and now languish at about $8 a share. On the announcement, BlackBerry stock rose a modest 2% to $8.85 a share, giving the company a market value of $4.65bn.
For more info, click here http://bit.ly/16v8IWI