The company BlackBerry received a buyout offer for 4.7 billion dollars

BlackBerry has signed a letter of intent with Canadian holding company Fairfax Financial, which could lead the smartphone maker to return to private ownership, The Verge writes .

The news followed the end of BlackBerry stock trading, as was the case last week before announcements of massive layoffs and withdrawal from the consumer market. According to a press release, the deal is estimated at about $ 4.7 billion, so shareholders will receive $ 9 per share.

As previously reported, BlackBerry is going to concentrate on the corporate market in which the company is more successful. This move, according to Fairfax CEO Prema Vatsy, will enable BlackBerry to “continue to implement a long-term strategy as a private company with a focus on providing excellent and secure enterprise solutions for BlackBerry customers around the world.”
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A letter of intent is a preliminary step before the company becomes private and will be owned by Fairfax, but BlackBerry advice may also receive other offers — which, in a similar situation, significantly delayed Dell’s plans to become private. These proposals must be made before November 4, after which BlackBerry and Fairfax will be able to conclude a final agreement.

BlackBerry (formerly RIM) has experienced a recession in recent years, and since last month the company has been open for redemption. Fairfax is a strong contender: it has assets of about $ 31 billion, and Watsu himself was compared with financial magnate Warren Buffett - Watsa made a fortune by buying stakes in troubled companies, and then improving their performance. Fairfax has long been a major BlackBerry investor, currently owning about 10% of the company's shares.