Featured Articles

Apple announces its Apple Watch

Apple announces its Apple Watch

Apple has finally unveiled its eagerly awaited smartwatch and surprisingly it has dropped the "i" from the brand, calling it simply…

More...
Skylake 14nm announced

Skylake 14nm announced

Kirk B. Skaugen, Senior Vice President General Manager, PC Client Group has showcased Skylake, Intel’s second generation 14nm architecture.

More...
Apple officially announces 4.7-inch iPhone 6 and 5.5-inch iPhone 6 Plus

Apple officially announces 4.7-inch iPhone 6 and 5.5-inch iPhone 6 Plus

The day has finally come and it appears that most rumors were actually spot on as Apple has now officially unveiled…

More...
CEO: Intel on target for 40m tablets

CEO: Intel on target for 40m tablets

Intel CEO Brian Krzanich just kicked off the IDF 2014 keynote and it started with a phone avatar, some Katy Perry…

More...
Aerocool Dead Silence reviewed

Aerocool Dead Silence reviewed

Aerocool is well known for its gamer cases with aggressive styling. However, the Dead Silence chassis offers consumers a new choice,…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Monday, 04 November 2013 11:33

Fairfax having difficultly buying Blackberry

Written by Nick Farrell



Can’t get the cash together

It is starting to look like Fairfax can’t get the readies together for its $4.7 billion bid for BlackBerry.

According to Reuters, the banks who like to say “yes” have said “no” because none of them believe that Blackberry can turn itself around. Fairfax, which is run by Canadian financier Prem Watsa, is working with Bank of America Merrill Lynch and BMO Capital Markets to put together a lending syndicate for a deal, but they have been turned down by several large lenders.

That is not to say the deal is dead yet. The Bank of America Merrill Lynch and BMO both have deep pockets themselves and still could do it. Fairfax already has a 10 percent stake in Blackberry and reached a tentative $9-per-share deal with BlackBerry in late September. It has until today to tell them that it will proceed.

Several other potential bidders are also mulling participation in BlackBerry's future. The deadline for them to submit bids for the company is also today.

blog comments powered by Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments