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Started By
Message
Fairfax to take Blackberry private
Posted on 9/23/13 at 12:54 pm
Posted on 9/23/13 at 12:54 pm
quote:
BlackBerry Ltd. (TSX:BB) says it has signed a deal to be bought by a consortium led by its largest shareholder in a deal valued at U$4.7 billion.
The consortium led by Fairfax Financial Holdings. Ltd. (TSX:FFH) has offered US$9 per share in cash for the smartphone maker.
Under the deal, the consortium would all acquire of the outstanding shares of BlackBerry not held by Fairfax, which owns approximately a 10 per cent in the company.
Hard to know what to think. Seems like the ultimate melting ice cube, but the Fairfax guy is a legend.
LINK
3
Posted on 9/23/13 at 1:02 pm to HortensePowdermaker
It was inevitable. They actually got more than I was expecting at $9 a share.
Posted on 9/23/13 at 1:13 pm to HortensePowdermaker
quote:
$4.7 billion.
This should end well.
Posted on 9/23/13 at 2:53 pm to nolanola
I think these Canadian institutions get a lot of pressure to invest in Canadian businesses. Will be interesting to see. Prem is awesome, though.
Posted on 9/23/13 at 10:17 pm to HortensePowdermaker
quote:
Hard to know what to think. Seems like the ultimate melting ice cube, but the Fairfax guy is a legend.
$9 a share is about right - if he can leverage a couple of government contracts here and there and get a hot new product out there on the RIM network, the company can survive - however, they should focus on their basic customer base - a phone optimized for business, email, productivity, etc. - not try to out-Apple Apple.
Just my $0.02.
Posted on 9/23/13 at 10:39 pm to Ace Midnight
He was on the board so he has alot of inside info and knowledge of products.
Lets face it. That management needs a thorough housecleaning. Can't believe one word they say anymore and they still can not execute worth a damn. Sad part is, the Z and Q are damn good phones and they have totally blown their launches. No marketing, little carrier support. Higher up at one cellphone company today told me BB was getting its due because all the carriers hated them as they were the most arrogant company to deal with over the years.
I'll be shocked if Heins is around at New Years. I think this guy will come in, clean house in upper management, and set things on the right track. Company is debt free and sitting on a pile of cash. They pulled their little stunt friday so they could sell the company to him at a cheaper price.
Keep in mind Heins probably knew how bad sales were less than a month after the second quarter earnings release. Probably two weeks. He just plain lied.
Lets face it. That management needs a thorough housecleaning. Can't believe one word they say anymore and they still can not execute worth a damn. Sad part is, the Z and Q are damn good phones and they have totally blown their launches. No marketing, little carrier support. Higher up at one cellphone company today told me BB was getting its due because all the carriers hated them as they were the most arrogant company to deal with over the years.
I'll be shocked if Heins is around at New Years. I think this guy will come in, clean house in upper management, and set things on the right track. Company is debt free and sitting on a pile of cash. They pulled their little stunt friday so they could sell the company to him at a cheaper price.
Keep in mind Heins probably knew how bad sales were less than a month after the second quarter earnings release. Probably two weeks. He just plain lied.
Posted on 9/23/13 at 10:44 pm to prplhze2000
quote:
Company is debt free and sitting on a pile of cash.
Impossible to overstate how important this is.
I agree with the bulk of your post - solid analysis.
Posted on 9/23/13 at 10:48 pm to Ace Midnight
what has been fun is reading crackberry. Total meltdown, rant-esque mode. They were all freaking out Friday. I figured out they were driving down the value as they probably had an offer on the table as he had left the board for a conflict of interest.
Now they are all turning on the company of course. Its fun to read.
Now they are all turning on the company of course. Its fun to read.
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