Six news items to get you ready for weekend cocktail parties and other current events chatter:
1. BlackBerry May Not Have Been Saved After All. Just when you thought things at BlackBerry couldn’t get any worse. On Monday, things were looking up for BlackBerry after a horrendous previous week where the company’s stock tanked after reporting nearly $1 billion in losses and shedding 4,500 jobs. The company agreed to sell itself for $4.7 billion in a going-private deal to a consortium led by Canadian insurance company Fairfax Financial Holdings. On Wednesday, however, multiple outlets reported that the deal is now up in the air due to doubts over whether Fairfax Financial’s chair Prem Watsa has enough funding to close the transaction. According to USA Today, Bernstein Research, a Wall Street research firm, called Watsa’s bid, which consisted of $480 million in cash and $4 billion coming from loans and equity, “unrealistic.” Watsa, for his part, told Reuters he was confident the deal would go through. One person who is probably itching for both sides to pop the champagne is BlackBerry CEO Thorsten Heins, who reportedly stands to bag $55.6 million in severance pay if he is terminated following the sale.
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