Sep 23, 2013
By AM740 Staff
BlackBerry’s biggest shareholder is offering to buy the financially troubled smartphone maker for 4.7-billion dollars U-S as part of a consortium of companies.
Fairfax Financial is offering nine dollars a share.
It already owns 10-per cent of Blackberry.
The offer to purchase comes after the Waterloo-base company said it would record a writedown of nearly one billion dollars, primarily from poor sales of its BlackBerry Z10 touchscreen smartphones.
BlackBerry shares plunged as much as seven per cent today on top of a 16 per cent slide Friday.
The selloff was sparked by BlackBerry’s announcement at the end of the week that it will cut about 45-hundred jobs.