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Colin Jeffery

Colin Jeffery

BlackBerry agrees to sell itself

Monday, 23 September 2013 13:01 Published in Business

TORONTO (AP) - BlackBerry has agreed to sell itself for $4.7 billion to a group led by largest shareholder, Fairfax.

BlackBerry said Monday that a letter of intent has been signed and its shareholders will receive $9 in cash for each share.

Fairfax head Prem Watsa is a former board member who owns 10 percent of BlackBerry. Watsa stepped down when BlackBerry announced it was considering a sale last month. The billionaire is one of Canada's best-known value investors. .

Trading of the company's stock was halted ahead of the news. BlackBerry shares plunged after the company announced Friday a loss of nearly $1 billion and layoffs of 4,500 workers.

The BlackBerry, pioneered in 1999, was once the dominant smartphone for on-the-go business people and other consumers before Apple's iPhone debuted in 2007.

 

BlackBerry agrees to sell itself

Monday, 23 September 2013 12:59 Published in National News

TORONTO (AP) - BlackBerry has agreed to sell itself for $4.7 billion to a group led by largest shareholder, Fairfax.

BlackBerry said Monday that a letter of intent has been signed and its shareholders will receive $9 in cash for each share.

Fairfax head Prem Watsa is a former board member who owns 10 percent of BlackBerry. Watsa stepped down when BlackBerry announced it was considering a sale last month. The billionaire is one of Canada's best-known value investors. .

Trading of the company's stock was halted ahead of the news. BlackBerry shares plunged after the company announced Friday a loss of nearly $1 billion and layoffs of 4,500 workers.

The BlackBerry, pioneered in 1999, was once the dominant smartphone for on-the-go business people and other consumers before Apple's iPhone debuted in 2007.

 

Companies partner to build largest solar farm in Missouri

Monday, 23 September 2013 11:40 Published in Local News

SPRINGFIELD, Mo. (AP) - A Springfield utility is planning to partner with two companies to build what would be the largest solar farm in Missouri.

City Utilities says it will work with Solexus Development in St. Louis and Strata Solar of North Carolina to build the 4.95 megawatt system, with construction to begin next spring.

The Springfield News-Leader reports the companies expect to finalize a contract Monday. The system will be built on 57 acres next to an existing City Utilities generation station near Springfield.

Under the 25-year agreement, Solexus will develop the project and Strata Solar will build, finance and operate it. City Utilities' will connect the system to existing infrastructure, then buy the solar power the system produces.

The system is expected to produce about 9.6 million kilowatt hours per year.

 

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