Breaking Down BlackBerry's Big Buyout News
Struggling Canadian smartphone maker BlackBerry's long slide into irrelevance -- at least as far as public market investors are concerned -- may have met an end finally. On Monday, news broke that superinvestor Prem Watsa, head of Fairfax Financial, had signed a letter of intent to buy the remaining shares his financial powerhouse had yet to own for $9 per share.
This is welcome news as it seems potential buyers for BlackBerry weren't exactly coming out of the woodwork. According to reports, Fairfax was the only bidder to proceed past simple due diligence.
But the deal is still far from a sure thing: Fairfax will have to clear several hurdles in order to conclude this sad chapter, which Fool contributor Andrew Tonner discusses in the video below.
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The article Breaking Down BlackBerry's Big Buyout News originally appeared on Fool.com.Fool contributor Andrew Tonner has no position in any stocks mentioned. Follow Andrew and all his writing on Twitter at @AndrewTonner. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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