BlackBerry agrees to US$4.7B sale by Fairfax-led consortium

WATERLOO, ON - BlackBerry Ltd. said Monday that it has signed a letter of intent agreeing to be purchased by a consortium led by shareholder Fairfax Financial Holdings for US$4.7 billion. Under the deal, shareholders would receive US$9.00 in cash for each share of BlackBerry share they hold. The consortium would acquire for cash all of the outstanding shares of BlackBerry not held by Fairfax. Fairfax, which owns approximately 10% of BlackBerry's common shares, intends to contribute the shares of BlackBerry it currently holds into the transaction, and take the company private. The BlackBerry board of directors, acting on the recommendation...