Bloomberg: BlackBerry Breakup May Deter Bids
Bloomberg reported BlackBerry agreed to pay its biggest shareholder a rare breakup fee for a tentative takeover offer, which could deter rival bidders, after the smartphone maker last week said a group, led by Fairfax Financial Holdings, signed a letter of intent for a $4.7 billion buyout.
Bloomberg said that Fairfax CEO Prem Watsa hasn’t identified the rest of the buyout group or obtained committed financing, but BlackBerry agreed to pay the group a $157 million fee if it strikes a better deal with another buyer.
Previously on abfjournal: Bloomberg: BlackBerry Lands Cheapest Tech Deal for Takeover, September 24, 2013
To read the entire Bloomberg article, click here.