To be clear, the all-cash offer from Fairfax was about ten percent above where the stock was trading prior to the announcement Monday afternoon and also allows BlackBerry Ltd (NASDAQ:BBRY) to shop the street for competing offers for the next six weeks, until November 4th, to see if it can come up with something sweeter.
For its part, Fairfax already owns ten percent of the company and its CEO Prem Watsa was on the BlackBerry board before stepping down in August; a move that had been widely seen as a precursor to today’s formal letter of intent.
For now, the stock is back trading above the $9 price implying that traders believe we haven’t seen the final offer yet, be that a from Fairfax or another entity who sees value where many other investors only see BlackBerry shame.
Watch the full video below:
BlackBerry Limited designs manufactures and markets wireless solutions for the worldwide mobile communications market. The Company provides platforms and solutions for access to email phone SMS messaging Internet and Intranet-based applications.
The following ETFs hold BlackBerry Limited and have the exposures noted. You can sort any column of data by clicking on the heading.
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