Canadian fund Fairfax ready to save BlackBerry

BlackBerry's shareholders will not stay long in uncertainty. The co-founder Mike Lazaridis had many aims of redemption with the help of Blackstone and Carlyle investment fund. But ultimately it is Fairfax, another fund, but the Canadian one, which is about the tender: a tender offer at 9 $ per share (in cash), not much more than the last known price just before the announcement of supply Fairfax (8.23 dollars). The transaction is valued at 4.7 billion dollars.

A straw from the highest known in the heyday levels of growth between 2000 and 2007. RIM's share (then known as the manufacturer of smartphones) worth at its peak over 200 dollars.

The offer is presented Fairfax rescue in extremis a jewel of the Canadian computer industry. The fund is focused on high-tech and is more specialized in the areas of insurance and reinsurance. It has however already 10% stake in BlackBerry.

 An officer of Fairfax. Prem Watsa said,  "We can bring value to shareholders immediately, while pursuing the execution of a long-term strategy in an unlisted company refocused on providing customers with the BlackBerry world of superior solutions and safe for businesses, "

The timing looks perfect for Fairfax, BlackBerry with little chance of finding other better-called buyers after the disastrous results announced late last week: 1 billion loss to 1.6 billion revenue (3.7 million handsets sold) in the last quarter. Other offers may still occur by 4 November. But fate seems sealed with BlackBerry Fairfax. In focus: a delisting and a decrease in the corporate market.