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Blackberry in £3billion takeover deal

 

In a statement, Blackberry stated that it’s current largest shareholder with around 10% of stock had offered £3billion to purchase the remaining shares.

 

Brian Colello, analyst at Morningstar, said that taking Blackberry private would allow the company to reorganise without being under the glare of Wall Street investors.  “Based on the company’s disastrous earnings warning on Friday, I think a deal had to happen and the sooner the better. This is probably the only out for investors and the most likely outcome.”

Blackberry’s struggles came to a head this year after the launch of the heavily promoted Z10 model which then went on to disappointing sales.

Full statement from Blackberry here

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