A consortium led by Fairfax Financial has entered into a letter of intent to take Blackberry private. It would be an all cash agreement at $9/share.
Blackberry is permitted to solicit other proposals until November 4.
There would be a couple billion dollars of flows into CAD on the deal but probably not enough to move the needle. BBRY was trading at $8.23 before the announcement so it’s not much of a premium. Their new phones are great, they’re just too far behind on market share.