On September 20th, smartphone maker BlackBerry announced a 40 per cent cut in its workforce, or 45-hundred jobs, as phone sales faltered and the company projected nearly a billion-dollar quarterly loss. On September 23rd, a consortium led by Canadian investment firm Fairfax Financial, one of BlackBerry's largest shareholders, made a 4.7-billion-dollar US offer for the troubled tech giant. Chris King, a portfolio manager at Morgan, Meighen and Associates, was not impressed with the consortium's offer. (The proposal by Fairfax allowed Blackberry to actively solicit and evaluate rival offers until the consortium completed its due diligence.)

Date: 2013-09-23
Placeline: TORONTO, Ontario.
Source: The Canadian Press
Length: 12 seconds

Transcript Prediction: << this deal is this an example of a Great Canadian take under that's not take over by to take under and we often see that with some of our better companies in Canada and just comes from a lack of competition >>

Earbank_2013-09-23_BIZ-BlackBerry-Stock_3222