Fairfax Financial’s $4.7-billion deal to purchase BlackBerry is on hold, but the company has agreed to invest in the troubled smartphone maker as it restructures.
BlackBerry plans to raise $1 billion US in capital to see it through a restructuring and to replace its chief executive and some directors, it said in a release this morning.
BlackBerry plans a private placement of convertible debentures, with Fairfax to invest $250 million US and unnamed institutional investors subscribing to the rest.
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