BlackBerry Enters into Letter of Intent
Today BlackBerry Enters into Letter of Intent with Consortium led by Fairfax Financial. The transaction valued at approximately U.S. $4.7 billion. The consortium permits takes 6 weeks to conduct due diligence.
Prem Watsa, Chairman and CEO of Fairfax, said: “We believe this transaction will open an exciting new private chapter for BlackBerry, its customers, carriers and employees. We can deliver immediate value to shareholders, while we continue the execution of a long-term strategy in a private company with a focus on delivering superior and secure enterprise solutions to BlackBerry customers around the world.”
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