Prem Watsa confident bid for BlackBerry will succeed

Prem Watsa

Prem Watsa is very confident that his company’s $4.7 billion dollar bid for BlackBerry will succeed. BlackBerry has up until November 4th to shop for another sale, a higher bid. While Prem’s company Fairfax owns a %10 stake in BlackBerry (biggest shareholder), he strongly believes at the end of their due diligence they will still hold their ground for the current bid.

“We wouldn’t put our name to such a high-profile deal if we didn’t feel confident that at the end of the day that our due diligence would be fine and we’d be able to finance it”

Let the due diligence begin, only time will really tell what will happen. As far as the marketprice, here is what Prem had to say:

“Short term these things fluctuate, there is speculation one way, there’s speculation the other way.””We never pay too much attention to the marketplace.”

In regards to who else will join in on the bid, Prem Watsa declined to comment as confidentiality agreements are in place.

Source: Reuters