BlackBerry just received an offer to go private from Fairfax Financial Holdings Limited for $9 per share, or $4.7 billion.
Fairfax signed a letter of intent for the offer. It already owns about 10% of BlackBerry.
BlackBerry is currently trading at about $8.20 per share.
To be clear, this is just a formal offer for Fairfax to buy BlackBerry, but the deal has not gone through yet. BlackBerry’s board has agreed to the terms in the letter.
BlackBerry and Fairfax are now entering a “diligence period” where a number of conditions must be met. This diligence period should last — For more information read the original article here.