It's no coincidence that they are delaying the launch of BBM even further out now so that the stock price does not pop. Prem is a slick cat that wants BBRY on the cheap.
If they launch BBM, rival bidders would see the potential in it and submit a bid. It will be interesting to see exactly when the launch will happen. I would say after the company has been taken private.
It's all a game...a game of billions though...
You lie so much. How do you do it? How about all of those 80K BBRY longs since 10.85? Where did they mysteriously disappear.
AEA...you are making people lose faith in your trades through your losses and lies.
This may be true, but Prem needs the bid much higher to break-even. He would need to see double the current buy-out price...
Now that a bid is actually on the table, future bids can only be higher. Let's hope Samsung, Lenovo, Microsoft, Amazon or Facebook counter this initial bid.
Blackberry will make sizable profits after the expense reduction. They will likely begin to outsource operations to places like the Phillipines and China where labor expense is ultra-low.
Prem will have fat pockets when it's all said and done if others don't bid.
Yes, it seems as if they did the pre-announcement so that they could capture a bid next to the market price. I don't think this will play out well with others. I believe we may still see other bids come in from Lenovo, Samsung, Microsoft, etc. At least, we have a $9 floor now. It stops the downward pressure on the stock and ends the negativity.
BlackBerry Limited (NASDAQ: BBRY)(TSX: BB) today announced it has signed a letter of intent agreement ("LOI") under which a consortium to be led by Fairfax Financial Holdings Limited ("Fairfax") has offered to acquire the company subject to due diligence.
The letter of intent contemplates a transaction in which BlackBerry shareholders would receive U.S. $9 in cash for each share of BlackBerry share they hold, in a transaction valued at approximately U.S. $4.7 billion. The consortium would acquire for cash all of the outstanding shares of BlackBerry not held by Fairfax. Fairfax, which owns approximately 10 percent of BlackBerry's common shares, intends to contribute the shares of BlackBerry it currently holds into the transaction.
The BlackBerry Board of Directors, acting on the recommendation of a special committee of the board of directors (the "Special Committee"), approved the terms of the LOI under which the consortium, which is seeking financing from BofA Merrill Lynch and BMO Capital Markets, would acquire BlackBerry and take the company private subject to a number of conditions, including due diligence, negotiation and execution of a definitive agreement (the "Definitive Agreement") and customary regulatory approvals.
The Special Committee, chaired by Director Tim Dattels, was formed in August 2013 to review strategic alternatives for the company. J.P. Morgan and Perella Weinberg are acting as financial advisors and Skadden, Arps, Slate, Meagher & Flom LLP and Torys LLP are acting as legal advisors.
Diligence is expected to be complete by November 4, 2013 ("Diligence Period"). The parties' intention is to negotiate and execute a definitive transaction agreement by such date. During such period, BlackBerry is permitted to actively solicit, receive, evaluate and potentially enter into negotiations with parties that offer alternative proposals ("Alternative Transactions").
If (A) during the Diligence Period (i) BlackBerry enters into any letter of intent or
Before it was...you will be very happy tomorrow and now it is you will be very happy next week. AEA...you are losing it bud.
The fact that BB10 is built on QNX, a real-time operating system that is well suited for automobiles, could give the buyer a head-start in the emerging smartcar market and hence attract a substantial bid.
Paperweights...you are funny. I use my Q10 and have used it for much more than just paperweight.
Marketing sucks for this company both in timing and actual delivery. Their new products, BB Q10 and Z10, are actually amazing products. Again, marketing sucks big-time. The Q10 should have been delivered first. It is what we keyboard fans want. When you delay as much as BB did, you lose tons of users to other devices.
You have to announce big and then make it happen right afterwards to be successful. You can't set expectations and then disappoint. It never works well that way.
I don't think BBRY buyers are happy at this time. They may have been buying from the high 10's in following your advice. We will get news of 8 new contracts for Blackberry tomorrow. It may pop back fifty cents but that won't appease longs.
Longs need a buy-out to be happy....period.