The Latest in IT Security

BlackBerry calls off sale, spurring doubts and stock plunge

05
Nov
2013

By Euan Rocha, Allison Martell and Greg Roumeliotis TORONTO/NEW YORK (Reuters) – BlackBerry Ltd abandoned on Monday its plan to sell itself and said its CEO is stepping down, sparking a 16 percent dive in its share price and raising fears the struggling smartphone maker is running out of options. After a two-month review of strategic options and talks with potential buyers that included Facebook, Lenovo and private equity firms such as Cerberus Capital Management LP, BlackBerry said it will abandon a sale. Instead, it will raise $1 billion by issuing convertible notes to a group of long-term investors including its largest shareholder, Fairfax Financial Holdings. The only formal offer to buy BlackBerry – a tentative one – had come from Fairfax, which wanted to take the company private for $4.7 billion.

Comments are closed.

Categories

THURSDAY, AUGUST 06, 2020
WHITE PAPERS

Mission-Critical Broadband – Why Governments Should Partner with Commercial Operators:
Many governments embrace mobile network operator (MNO) networks as ...

ARA at Scale: How to Choose a Solution That Grows With Your Needs:
Application release automation (ARA) tools enable best practices in...

The Multi-Model Database:
Part of the “new normal” where data and cloud applications are ...

Featured

Archives

Latest Comments