What happened .... What happened -- Anything wrong with creating a rumor and making money on it..both up and then down? SEC?
Shares of BlackBerry (NYSE:BB), a technology company focused on security software and services, was up 10% as of 10:55 a.m. EDT on Tuesday. The jump looks to be attributable to the news that an investing heavyweight might be interested in buying out the entire business.
So what - Yeh - so what - the all seeing market knows
StreetInsider.com reported that Fairfax Financial Holdings (OTC:FRFH.F), run by famed investor Prem Watsa, has held talks with BlackBerry's management about acquiring the company outright.
Image source: Getty Images.
The report also stated that BlackBerry has created a committee and hired a team of investment bankers to advise on a potential acquisition. The source of the information, not identified in the report, noted that it was unclear if the talks are ongoing and how far along they may have advanced. (Gee Someone heard something and no names given - Market is forward looking ...)
In other news, BlackBerry announced today that it has hired Thomas Eacobacci as president as of June 15. Eacobacci had previously been an executive at Citrix Systems. (Apparently this happened but Blackberry will not comment)