Blackberry accepts Fairfax deal

00:00:00 | 00:00:00::Projekktor V1.3.09 Struggling smartphone maker Blackberry has accepted a deal worth billions of dollars to be acquired by a Toronto company, just a few days after it announced it’s cutting 4500 jobs.Blackberry says it has signed a deal to be bought by Fairfax. The deal is worth $4.7 billion U.S.The friendly deal means Fairfax shells out $9 U.S. for each share it doesn’t already own. Fairfax previously owned around 10% of blackberry.The blackberry board of directors have approved the terms of the agreement. Just before the announcement was made, shares were down 60 cents at $8.48 on the TSX shortly before trading halted on North American markets.Last Friday, Blackberry announced it cut 4500 jobs, but still hasn’t said how many of those will be in Waterloo.Blackberry expects to post a loss of close to a billion dollars when it reports its second-quarter earnings on Friday.

Leave a Comment

Your email address will not be published. Required fields are marked *