Ailing BlackBerry Gets A Buyout Offer

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After a disastrous Friday announcement, BlackBerry announces it's going private.

For the second time in two trading days, trading on BlackBerry Ltd. has been halted again, this time after the canadian hardware vendor announced that it will be going private in a sale to a consortium helmed by Fairfax Financial Holdings Ltd.

The deal, which will bring $9 per share to stockholders, will total around $4.7 billion, according to MarketWatch. Fairfax currently owns around 10% of BlackBerry's shares now.

The buyout will have to undergo due diligence, BlackBerry has said.

Image courtesy of Reuters/Mark Blinch.