BlackBerry To Sell Itself to Consortium For $4.7 Billion
It'll be a cash transaction that would net BlackBerry shareholders a paltry $9 per share; and to think, this company's stock was soaring above $100 just a few years ago. As of now, BlackBerry has simply signed a "letter of intent," and if the consortium doesn't find good reason to back away within the next six months, it should be a done deal. Already, Fairfax owns 10 percent of BlackBerry's common shares, and it intends to contribute the shares of BlackBerry it currently holds into the transaction.
It's still unclear what this means for the future of such an iconic mobile player, but it's probably best if you start saying your goodbyes. But hey, at least we'll have BBM to remind us of the good days, right?