BlackBerry bid will be financed, Fairfax's Watsa says
The man behind the consortium offering to buy out BlackBerry and take it private offered some insight into the deal on Wednesday.
Fairfax Financial Holdings CEO Prem Watsa told Reuters that he believes the consortium will be able to come up with the money needed to pay for the $4.7 billion bid.
"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 told Reuters. BlackBerry announced Monday that it had entered into talks with the consortium, which is led by Fairfax Financial. Under the proposed deal, shareholders would receive $9 a share in cash, a slight premium to the roughly $8 that the stock is currently trading at.
