The stock is currently languishing during the transition period. Could this be acquired?
There is a chance that Cerberus or Mike Laz could make a higher than 9 offer. Though I think Mike will join Fairfax. Cerberus is different. Eventually Fairfax may increase their bid if Cerb. makes higher bid because Fairfax's cost is $17 and knows the true potential of BBRY with 2.3B less in expenses next year and the value of BBM Inc.
I expect MiKe Laz, Doug F, CPPB, Canada banks to join Fairfax. Cerberus may surprise with a higher bid.
Here is how I think it will play out...
Between Fairfax, Mike Laz, DougF they own 18%. They will team together. Canada pension funds will increase their equity stake so that between all of the above parties they will own at least 1/3rd. The remaining 2/3rd of the shares will be bought back at $9/share. Fairfax already has the commitment for the $3B needed... so I think it is a done deal... I find it a great work-out opportunity to buy here at 8.10ish level for a 11% return opportunity in three weeks. That is an annualized return of 180%...The risk is there is no definitive offer but Fairfax has repeatedly said they are putting their 28 year reputation on the line on the $9 offer.
Next three weeks could see lots of activity. By end of November this could be all over. By Dec/January after being taken private everyone will forget all the noise that is going on now. This thread is likely shutdown.
We will see.
Please help with links
Tracey, thanks but not following..can you please explain. Fairfax definitive $9 offer is expected on Monday Nov 4th or sooner. What did you mean by "offer expiration"? I expect that immediately after Nov 4th it will go to shareholder approval voting and considering Fairfax, Lazaridis, Canada Pension and others own majority of the shares, it will get approved quickly. Then what is there left to be done.. not following hat you are saying...I see a minimum 10% in one month or 120% annual return on this....please explain.
or cerberus, lazaridis
No brainer...No issue with canada govt etc..Stock should rally to 9 soon. Only 3 weeks left so it should trade very close to 9 may be 8.90 to 9.10 range.
Monday Nov 4th is the day for definitive fairfax agreement. That means Tuesday Oct 29th (or 14 biz days) to be on the shareholder of record to vote (not sure the cutoff for voting date).
I doubt it.
No one talks about that. It will still have some enterprise niche business. Even with 6 Billion revenue it will be profitable. Has $16 in assets and no debt. $500Million tax refund coming from govt. BBM will get some value.
Wished I bought last week but I didn't know that CSCO, GOOG, SAP, INTC, Samsung, LG are bidding for BBRY. If I get it under 10 Monday, isn't it a good idea to load up? All these companies have billions I mean like 50B for CSCO, 50B of GOOG type of cash and funding is a no brainer.
Anyone know why?
But I am intrigued why they put a deadline of Friday October 11 for CSCO, GOOG, INTC, SAMSUG, LG.. total mystery...
I really don't know but my best guesses are.
1. One or more of APPLE, Microsoft, IBM, Oracle, Yahoo, Amazon, Lenovo: Have put in a higher bid than Fairfax and BBRY wants to make sure that others had a chance
2. Cerberus has put in a higher than $9 definitive cash bid with one week deadline, beating Fairfax and BBRY has to give others a chance in the window.
3. MIke Lazaridis has put in a higher than $9 definitive cash bid with one week deadline, beating Fairfax and BBRY has to give others a chance in the window.
4. Fairfax itself has submitted a $9 definitive bid and wants to expedite closure three weeks earlier by Monday October 14th.
I can't explain any other reason why a deadline of Friday October 11 has been set for CSCO, GOOG, Samsung, INTEL, LG as stated in the Raueters article. Any other explanations? What is the hurry?
When will be shareholder vote and when will shareholders get the $9/share? anyone?
Unless fairfax willing to raise the offer. Blackberry special committee will have to respect and accept a materially higher definitive bid.