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Jun 2, 2020

Fairfax shoots down BlackBerry deal-talks speculation

BlackBerry shares rise on takeover report

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Fairfax Financial Holdings Ltd. has dismissed a report that it was eyeing a deal to acquire BlackBerry Ltd.

“Fairfax is not currently making a bid, or engaged in making a bid, for BlackBerry,” said Fairfax general counsel Derek Bulas in an email to BNN Bloomberg Tuesday.

BlackBerry shares rallied six per cent in New York Monday, and added to those gains in early trading Tuesday, after Street Insider published an online report that Fairfax had held talks about purchasing the shares of BlackBerry that it does not already own.

Fairfax ranks as BlackBerry’s second-largest shareholder, according to Bloomberg data, with an 8.43 per cent stake.

A spokesperson for BlackBerry declined to comment on the situation.