JPMorgan, Others Commit $250MM to EXCO DIP Financing

EXCO Resources filed Chapter 11 in the U.S. Bankruptcy Court in the Southern District of Texas. JPMorgan, Fairfax Financial Holdings, Bluescape Resources and Cove Key Management will provide $250 million of DIP financing to support the company’s restructuring.

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.