Monday, November 4, 2013

BlackBerry Abandons Sale Process - WSJ.com

BlackBerry Abandons Sale Process - WSJ.com:
The buyout offer did not work out, as many suspected
After a monthslong sale process failed to secure a solid bidder by Monday's deadline, BlackBerry Ltd. BB.T -12.73% announced a $1 billion investment from a group led by its major shareholder and the ouster of its chief executive.
The new interim CEO may be the next Steve Jobs?
In a brief interview, Mr. Chen said he would need "a little bit of time" to consider next steps for the company, but that he sees BlackBerry becoming the leader in business-focused services. "Obviously there are a lot of assets there," Mr. Chen said.

"One of the things that was hurting this company is that there was a for-sale sign up," Mr. Watsa said. "The for-sale sign is taken down. We have financing in place for the long term."

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