Fairfax Not Shedding Light on BlackBerry Deal

Fairfax

 

There is no update from Fairfax today on its buyout of BlackBerry. Since the initial offer much has changed:

Google and Everything Android are part of lawsuit with BlackBerry’s consortium partners, Rockstar:

https://pfcsystems.wordpress.com/2013/11/01/google-samsung-sued-by-consortium-owned-by-apple-microsoft-blackberry-sony/

and BlackBerry may be looking for a better partner:

https://pfcsystems.wordpress.com/2013/11/01/blackberry-looking-for-a-mutually-beneficial-partnership/

 

By Will Connors

Investors hoping to get an update on the deal to take BlackBerry Ltd.BB.T -1.34% private during Fairfax Financial Holdings Ltd.’sFFH.T -2.86% earnings call Friday morning were likely disappointed.

Fairfax, the Canadian insurer led by Prem Watsa, in late September struck a preliminary $4.7 billion deal to buy the shares of BlackBerry it didn’t already own and take the troubled smartphone company private. Since the announcement of the deal, which Fairfax can walk away from at no penalty, investors have reacted skeptically, sending BlackBerry shares down more than 11%.

On Friday, Fairfax held a conference call to discuss its own third-quarter financial results. As soon as the call was opened to analysts’ questions, a request for an update on the BlackBerry bid was put forth.

Mr. Watsa, Fairfax’s founder and chief executive, declined to comment and quickly moved on. Investors will have to wait til Monday, when the due diligence period for the BlackBerry deal expires, to get an update.

Source: http://blogs.wsj.com/canadarealtime/2013/11/01/fairfax-declines-to-shed-light-on-blackberry-deal-for-now/

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s