Is this BlackBerry’s last dance?
Fairfax Financial has offered $4.7 billion for the company. Is it getting a good deal?
Tim Querengesser is senior editor with Alberta Venture. He once snowmobiled to the Arctic Ocean to interview a guy in elf shoes about reindeer. Really. Peace Pipe is his critical look at the intersection between Indigenous peoples and industry. Email Tim
by Tim Querengesser
Finally, the circus stopped.
After months of watching BlackBerry make a mockery of itself by losing fistfuls of money, writing-down about $1 billion in unsold handsets, the half-inspired Alicia Keys creative-director appointment and the botched launch of BBM for iPhone and Android, Prem Watsa and Fairfax Financial have this week taken the old, lame BlackBerry dog out back while holding a $4.7-billion rifle.
For anyone who’s still invested in BlackBerry stock, the price Fairfax is trying to buy BlackBerry for works out to $9 per share.
But is this the end of the saga? Would BlackBerry recover under Fairfax and the freedom that private ownership provides from the constant scrutiny that staying public didn’t? Or is the rot too deep in BlackBerry? Is Fairfax trying to buy a mutt?
Cast your vote below: