4 Merger and Acquisitions Stock Stories Making Top Headlines
BlackBerry Ltd. (NASDAQ:BBRY): Current price $8.82
In a bit of a surprise, BlackBerry announced Monday that it will be acquired by a consortium to be headed by Fairfax Financial Holdings Ltd., still subject to due diligence. The letter of intent offers a transaction in which BlackBerry shareholders would receive $9 in cash for each share they hold, in a transaction valued at roughly $4.7 billion. The consortium would purchase for cash all of the outstanding shares of BlackBerry not held by Fairfax, which owns around 10 percent of BlackBerry’s common shares. The buyer intends to contribute those shares into the transaction.