Fairfax Financial Holdings has agreed to acquire BlackBerry in a deal worth $4.7 billion, both companies announced Monday.
The Toronto-based financial holdings conglomerate has agreed to pay $9 per share for the beleaguered mobile company — a premium of about 9%. Shares of BlackBerry were trading at $8.23 per share before a freeze was initiated.
Remember when Blackberry was “crackberry,” and ruled the cell phone world? No more. My guess is the new owners will strip the cash, sell the patents, squeeze whatever juice is left, and walk away.