Daily News: September 24, 2013

Bloomberg: BlackBerry Lands Cheapest Tech Deal for Takeover

Bloomberg reported that BlackBerry, once valued at $83 billion, may have received the cheapest valuation ever for a North American technology or telecommunications, takeover after the smartphone maker said it reached a tentative agreement for a $4.7 billion buyout by a group led by Fairfax Financial Holdings, its biggest shareholder.

Bloomberg noted that, including net cash, the proposal values the company at an 80 percent discount to its book value and 0.17 times its sales, the cheapest revenue multiple on record among similar-sized North American telecommunications or technology acquisitions, according to data compiled by Bloomberg .

To read the entire Bloomberg story, click here.