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Blackberry agrees to Fairfax buyout

Blackberry agreed to a preliminary buyout on Monday by a consortium led by Fairfax Financial Holdings Ltd. for $4.7 billion.

A new Blackberry Z10 smartphone is displayed at a store in New York, March 22, 2013. REUTERS/Brendan McDermid A new Blackberry Z10 smartphone is displayed at a store in New York, March 22, 2013. REUTERS/Brendan McDermid

Blackberry agreed to a preliminary buyout on Monday by a consortium led by Fairfax Financial Holdings Ltd. for $4.7 billion.

Fairfax is the largest shareholder in Blackberry and offered to buy the Canadian company for $9 a share. The smartphone maker has been struggling for years and cut 4,500 jobs on Friday.

 
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