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BlackBerry no longer for sale; Heins leaving

telecom | 11/04/2013 9:40 pm EST

BlackBerry Ltd. said it concluded its strategic review and is no longer looking for a buyer, and will instead receive a $1 billion investment from Fairfax Financial Holdings Ltd. The company said in a release Monday that the special committee it launched in August to explore the company’s strategic options, including a sale, had concluded the process. It said Fairfax would invest “in BlackBerry through a U.S. $1 billion private placement of convertible debentures.” BlackBerry also said chief executive Thorsten Heins will leave the company. Prem Watsa, chairman and chief...