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.
That is interesting....
Fairfax said repeatedly $9 offer is firm and puts its reputation on the line. Mr. Market is irrational in the short term. That gives opportunity for the ones with courage.
TORONTO (Reuters) - Fairfax Financial Holdings Ltd Chief Executive Prem Watsa said on Wednesday he is confident the consortium he leads can find the money to fund its $4.7 billion bid for smartphone maker BlackBerry Ltd.
"We wouldn't put our name to such a high-profile deal if we didn't feel confident that at the end of the day that our due diligence would be fine and we'd be able to finance it," Watsa said in an interview.
The Canadian-led consortium put in its $9 a share bid for BlackBerry on Monday, arguing that the troubled company would have better chances as a private entity, away from Wall Street's constant gaze.
"Short term these things fluctuate, there is speculation one way, there's speculation the other way," Watsa said of the movement in BlackBerry's share price. "We never pay too much attention to the marketplace."
He said Fairfax had never changed the terms of a deal in 28 year history and it is a firm offer and has more than needed backing.
Read the Watsa interview with Globe and Mall. Too many people want to join $9/share bid as equity partners. No wonder.. with 4.5B in real estate assets, 2.6B in cash plus between 2.6 to 4.5B in patents, they get about $20 for half the price.
Ellison, Bezos, Zuckerberg, Meyers and the like are gutsy and capable of making surprising bets