Fairfax Financial will merely roll over its existing 9.9% BlackBerry (BBRY) stake into its $9/share buyout offer, and won't invest any more cash. Prem Watsa tells Bloomberg his firm will rely on other investors to finance the rest of the deal via equity and debt.
The news service reports Watsa has held talks with Mike Lazaradis (previous) to get the BlackBerry co-founder and his 5.7% stake to join Fairfax's effort; Watsa said in an interview today Lazaridis isn't yet involved.
In addition, sources state P-E firms Blackstone and KKR decided to pass on BlackBerry, and that Fairfax's consortium is "in flux."
BBRY -0.7% AH to $8.76.