Friday, September 27, 2013

Shareholders Sure Can Buy BlackBerry

Prem Warsa
Fairfax Financial Holdings CEO Prem Watsa, convinced that he led consortium to find the loan money to buy a BlackBerry for $ 4.7 billion. "We will not put our name as the leader of the consortium if it does not feel confident will be able to afford it," said Prem Watsa.

In its offer, the consortium will acquire cash for all outstanding shares in the BlackBerry, but not including shares owned by Fairfax. Shareholders at 9 dollars in cash for each share they own.If BlackBerry approve this bid, the company was formed in 1984 will again be a private company and withdraw from the stock market. According Watsa, BlackBerry better perusaha private so that irrespective of the public attention.

"BlackBerry is one of Canada's great success stories," says Watsa. He realized now BlackBerry is in hard times, but they have confidence will succeed again. "We are putting this consortium together to make sure what will happen," he added. However, Prem Watsa reluctant to mention anyone or any company belonging to the consortium. He also did not answer questions about the loan guarantee fund Reuters.

Fairfax has a 10 percent stake in the BlackBerry, which also owns a majority stake. While Watsa, Warren Buffett is often referred to as the Canadian, because he was successful in investing. Bid from a consortium led by Fairfax has not reached the final. BlackBerry still given the opportunity to 4 November 2013 to think and negotiate with other parties to bid differently.

Another party that is rumored to be bidding against BlackBerry is Mike Lazaridis, who was none other than the founder and former CEO of BlackBerry. The New York Times reported, Lazaridis reached out to Blackstone Group and Carlyle Group to draw up the offer.

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