24 September 2013

BlackBerry, Fairfax, Letter of Intent

This may be the "best way out" for BlackBerry -- 

BlackBerry Enters into Letter of Intent with Consortium led by Fairfax Financial - Press Releases: "Barbara Stymiest, Chair of BlackBerry’s Board of Directors, said: “The Special Committee is seeking the best available outcome for the Company's constituents, including for shareholders. Importantly, the go-shop process provides an opportunity to determine if there are alternatives superior to the present proposal from the Fairfax consortium.”"

BlackBerry Strikes Deal to Sell to Fairfax-Led Investor Group for $4.7 Billion - WSJ.com: "BlackBerry said its board of directors "approved the terms of the letter of intent," and that a consortium including Merrill Lynch and BMO Capital Markets, intended to take the company private.The transaction is expected to be completed by Nov. 4th, but it is subject to six weeks of due diligence and BlackBerry is entitled to "go-shop" the company during this period . . . Last Friday, BlackBerry pre-announced dismal second-quarter results, including plans to write down almost $1 billion in unsold phone inventory. . ."

BlackBerry Makes Risky Bet on Services - WSJ.com: "Executives responsible for buying smartphones and the software to manage them say BlackBerry faces long odds.Tracey Rothenberger, chief operating officer of Ricoh Americas Corp., Malvern, Pa., said that fewer than 500 of the 9,000 smartphones he manages for the printer and copier maker are BlackBerrys. The remainder are made by Apple or powered by Google Inc.'s Android software. "For me, it's kind of 'game over' for them," he said."

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Surface Remix Project: hands-on with Microsoft's crazy new DJ tool
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