Blackberry Sold for $4.7bn Dollars

                                                                                            
BlackBerry agreed in principal Monday to be acquired by Fairfax Financial, a Canadian insurance company, for $9 a share in a deal worth $4.7 billion in US dollars.
Trading in BlackBerry was halted before the announcement. When it resumed at 2 p.m. EDT, the stock jumped as much as 5 percent before retreating slightly. Prior to the announcement shares in the troubled smartphone maker company were down more than 5 percent.
Fairfax Financial, sometimes called the Berkshire Hathaway of Canada, is a holding company whose primary business is in insurance. Fairfax is also BlackBerry's largest shareholder.

BlackBerry to be acquired in $4.7 billion deal

BlackBerry has entered into a letter of intent with consortium led by Fairfax Financial. CNBC's John Carney, and JJ Burns, president and CEO of JJ Burns & Company, discuss.

 It is led by Prem Watsa, a chemical engineer by training who has run the firm since the mid-1980s.
The press-shy Watsa has long been a supporter of BlackBerry, and his name has been linked with a potential buyout for months