4 ms·
"Tentatively sold" is the worst description ever for what is really happening. BB has just received an offer, the board has now approved this, but needs to adv
by antr 13y ago
"Tentatively sold" is the worst description ever for what is really happening.
BB has just received an offer, the board has now approved this, but needs to advise shareholders if this is a fair or not offer, dd is pending, and shareholders have to decide yes/nor by tendering their shares... add to that to the possibility of more offers being made, making this entire thing last months (a la Dell et al).
Source: http://press.blackberry.com/press/2013/blackberry-enters-into-letter-of-intent-with-consortium-led-by-f.html http://press.blackberry.com/press/2013/blackberry-enters-int...
- 3am 13y agoIt should be noted Fairfax holds 10% of BBRY shares (http://finance.yahoo.com/q/mh?s=BBRY http://finance.yahoo.com/q/mh?s=BBRY), which means this to be taken a little more seriously than a 3rd party unsolicited bid.
- antr 13y agoI'm not saying otherwise, but a "letter of intent" has the same legality be it from an existing shareholder or a non-current shareholder.
- JumpCrisscross 13y agoHmm, they could be fishing to help value their existing stake.
- chollida1 13y agoThat's a big gamble. The stock went from 8.60 to 9.20 on this news. If this is a gamble and their bluff is called the stock is in for quite a tumble. This doesn't really fit the risk profile of FairFax capital.