[Corbu]

https://www.streetinsider.com/Hot+M+.../16955634.html

BlackBerry up after blog claims Fairfax considering purchase of rest of shares Fairfax Financial has held talks about potentially acquiring the remaining shares of BlackBerry the firm does not already control, according to a report from Street Insider that cites a source. The software company has formed a special committee and hired bankers to assist, the report claims. In afternoon trading in New York, shares of BlackBerry are up 28c, or 6%, to $4.92.

[elucianic]

https://www.streetinsider.com/Hot+M+.../16955634.html

Finally

[Dunt Dunt Dunt]

I have to say that CrowdStrike´s post-cornona-market-crash comeback has been nothing other than spectacular. my hat is of for the team over at CRWD, at congrats to the shareholders.

If you look at the time line for CRWD and BB.... Both hit bottom about 16th /17th of March, and both had bounced back to their late Feb price points within a few weeks.

Thing is CRWD has just kept on going up.... I'm not really sure what happened last week. Someone is expecting a really good report tomorrow. The key is many are expecting over 70% sales growth to be reported, even if earnings are a little negative (but improving), that seen as a big positive. Seen some saying CRWD could hit $119 soon....

Chen's trying hard not to go negative on earnings as BlackBerry isn't given the same slack as a startup. But his sales growth has been impacted by too much cost cutting and timidity - IMHO. I fully expect Cylance cost, to be much more than the buying price... but he he kept R&D number down. Not sure that was a good thing.

There is room for both, but BlackBerry has got to show real growth that at least matches the overall ESS Markets Growth.

[shanhetao]

https://www.streetinsider.com/Hot+M+.../16955634.html

BlackBerry up after blog claims Fairfax considering purchase of rest of shares Fairfax Financial has held talks about potentially acquiring the remaining shares of BlackBerry the firm does not already control, according to a report from Street Insider that cites a source. The software company has formed a special committee and hired bankers to assist, the report claims. In afternoon trading in New York, shares of BlackBerry are up 28c, or 6%, to $4.92.

I doubt that Fairfax would offer a good price.

[Dunt Dunt Dunt]

I doubt that Fairfax would offer a good price.

I'd be careful about thinking it's going to go way up from here.

Prem and Chen know how thing are going to go at this next ER and the ones following it. This is not going to be a good year for QNX or IP. And who knows if UEM was going to get it's feet under it. Cylance.... is stumbling at mile five of a marathon.

FairFax needs to pay as little as possible... in order to be able to make this a win somehow and not Prem worst investment.


Too does the StreetInsider have a good track record with rumors....

[FeitaInc]

https://www.streetinsider.com/Hot+M+.../16955634.html

BlackBerry up after blog claims Fairfax considering purchase of rest of shares Fairfax Financial has held talks about potentially acquiring the remaining shares of BlackBerry the firm does not already control, according to a report from Street Insider that cites a source. The software company has formed a special committee and hired bankers to assist, the report claims. In afternoon trading in New York, shares of BlackBerry are up 28c, or 6%, to $4.92.

well, at the current SP they can buy 20% of BB with just the money they get back from the debentures alone.

[Dunt Dunt Dunt]

https://www.thestreet.com/investing/...maining-shares

Another one... just reporting on the rumor that Street Insider has started.

citing an unidentified source.

It’s unclear whether talks are ongoing and how far they advanced, the source said.

Blackberry did not immediately respond to a request for comment.

That's the gist of it.... but the market responded to the rumor, because it's what most expect will happen.

[BanffMoose]

well, at the current SP they can buy 20% of BB with just the money they get back from the debentures alone.

Any guesses as to whether this will be a cash transaction or will they offer stock in Fairfax? Or will they wait until after the next earnings report to let the share price tank before announcing the takeover?

[Chuck Finley69]

https://www.streetinsider.com/Hot+M+.../16955634.html

BlackBerry up after blog claims Fairfax considering purchase of rest of shares Fairfax Financial has held talks about potentially acquiring the remaining shares of BlackBerry the firm does not already control, according to a report from Street Insider that cites a source. The software company has formed a special committee and hired bankers to assist, the report claims. In afternoon trading in New York, shares of BlackBerry are up 28c, or 6%, to $4.92.

I've heard this somewhere before.....

[Chuck Finley69]

I doubt that Fairfax would offer a good price.

Pick any number like $6 or $6 or even possibly $6 as good price as that would reflect a 25% premium from closing before the rumor announced.

[Chuck Finley69]

Any guesses as to whether this will be a cash transaction or will they offer stock in Fairfax? Or will they wait until after the next earnings report to let the share price tank before announcing the takeover?

If you are Fairfax shareholders, what do you expect to be done?

[app_Developer]

If you are Fairfax shareholders, what do you expect to be done?

If I were a Fairfax shareholder I’d be upset. Buying this at $6 means throwing even more cash at this. And then what? You’ve got a business that barely generates cash *unless* you pour in still more cash in R&D to get Cylance to scale.

[EchoTango]

I'm sure the institutional investors will be over-the-moon with locking-in their substantial losses. After hearing over multiple quarters that the big share price breakout is coming when "X" happens only to have Fairfax "pull the chair out", they're going to be very pleased indeed.

[EchoTango]

I doubt that Fairfax would offer a good price.

I had a further thought on this buyout rumour and I suspect Fairfax would generate numerous lawsuits for Shareholder Oppression should this go ahead for two reasons;

1) Fairfax sits on Blackberry's Board and as such has privileged access to information on the health and long term prospects of the company which other shareholders do not

2) The current depressed market conditions makes for a windfall opportunity for Fairfax to exploit their special relationship with Blackberry and John Chen.


Both of these factors gives Fairfax an unfair advantage in any transaction at the expense of the common shareholders, the very definition of Shareholder Oppression.

[Chuck Finley69]

If I were a Fairfax shareholder I’d be upset. Buying this at $6 means throwing even more cash at this. And then what? You’ve got a business that barely generates cash *unless* you pour in still more cash in R&D to get Cylance to scale.

Acquiring companies like Fairfax generally enjoy shareholder long-term strategy type support in these situations.

[Chuck Finley69]

I'm sure the institutional investors will be over-the-moon with locking-in their substantial losses. After hearing over multiple quarters that the big share price breakout is coming when "X" happens only to have Fairfax "pull the chair out", they're going to be very pleased indeed.

The institutional shareholders would be part of the common public share takeout aka taking private. Institutional shareholders never expected some big share price breakout. Institutional managers have been very aware of this collared strategy Fairfax has implemented.

[Chuck Finley69]

I had a further thought on this buyout rumour and I suspect Fairfax would generate numerous lawsuits for Shareholder Oppression should this go ahead for two reasons;

1) Fairfax sits on Blackberry's Board and as such has privileged access to information on the health and long term prospects of the company which other shareholders do not

2) The current depressed market conditions makes for a windfall opportunity for Fairfax to exploit their special relationship with Blackberry and John Chen.


Both of these factors gives Fairfax an unfair advantage in any transaction at the expense of the common shareholders, the very definition of Shareholder Oppression.

Shareholder Oppression lawsuits are primarily fought in privately held companies even in Canada since primary injury would be price damage from liquidity issues. The bulk of success in proving damage is easier when the majority shareholders are price setting when a public market doesn't exist.

Unfortunately, typical damage argument can't happen when shares are completely liquid and market forces have depressed share price. It's the liquidity existence that sets the market price. I'm not sure what shareholder oppression arguments would actually legally succeed.

[Redzinaldas]

https://newsfilter.io/a/53d921c9e3df...381bddf5595175
BlackBerry Names Thomas Eacobacci as President

[FeitaInc]

https://newsfilter.io/a/53d921c9e3df...381bddf5595175
BlackBerry Names Thomas Eacobacci as President

Good to see that they are still able to recruit senior personnel from CISCO.

[Corbu]

PR:
https://www.prnewswire.com/news-rele...301068943.html
BlackBerry Names Thomas Eacobacci as President

[rarsen]

Good to see that they are still able to recruit senior personnel from CISCO.

You probably mean CITRIX not CISCO.

[Dunt Dunt Dunt]

Acquiring companies like Fairfax generally enjoy shareholder long-term strategy type support in these situations.

I suspect FairFax shareholders are getting tired of hearing about BlackBerry....

I think Prem always wanted Chen to find a buyer for BlackBerry... it didn't happen. Taking them private will allow them to find buyers for "parts" of BlackBerry. I really doubt that FairFax is going to hold on to everything and invest more money into "fixing" BlackBerry and turn things around.

I also doubt anyone pays what BlackBerry paid for Cylance.... it's becoming clear it wasn't worth it. At least not without a LOT of extra money for development and marketing. In the end another case of too little, too late.

And in the end I doubt there will be any grounds for Shareholder Oppression. I do think FairFax is using "insider info" to make this decision, and will make more money this way than leaving the company alone to struggle for a few more years. But minority shareholder were always going to be left holding the bag, it's the reason share are divided the way they are.

In the end BlackBerry will always be one Prem's worst investment.

[FeitaInc]

You probably mean CITRIX not CISCO.

indeed. good catch @rarsen

[Corbu]

Form 8-K
Appointment of Thomas Eacobacci as President
https://www.sec.gov/ix?doc=/Archives...y-20200602.htm

[Chuck Finley69]

I suspect FairFax shareholders are getting tired of hearing about BlackBerry....

I think Prem always wanted Chen to find a buyer for BlackBerry... it didn't happen. Taking them private will allow them to find buyers for "parts" of BlackBerry. I really doubt that FairFax is going to hold on to everything and invest more money into "fixing" BlackBerry and turn things around.

I also doubt anyone pays what BlackBerry paid for Cylance.... it's becoming clear it wasn't worth it. At least not without a LOT of extra money for development and marketing. In the end another case of too little, too late.

And in the end I doubt there will be any grounds for Shareholder Oppression. I do think FairFax is using "insider info" to make this decision, and will make more money this way than leaving the company alone to struggle for a few more years. But minority shareholder were always going to be left holding the bag, it's the reason share are divided the way they are.

In the end BlackBerry will always be one Prem's worst investment.

I agree 100% but that was decided in 2011-2012 time period long before Chen entered the picture. Fairfax launching it's original bid to go private and shopping it around for competing bids sent a strong message to BOD that Fairfax was calling the shots and there wasn't any other white knight.

There wasn't any reason to bring company private @ $9USD per share then. I suspect that $6USD per share now looks pretty good to all parties involved before Fairfax sells off the large pieces with a smaller loss than if BlackBerry had gone under in 2013 or so.

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