Two of Canada’s largest pension funds have held preliminary discussions with Fairfax Financial Holdings Ltd. about its bid for BlackBerry Ltd., yet are holding off from the effort because they only want pieces of the smartphone maker, two people familiar with the talks said.
Prem Watsa, who patterns his value investments after Warren Buffett, said his Canadian insurance company may buy more shares of Research In Motion Ltd. after Watsa was appointed to the board of the BlackBerry maker,
Fairfax Financial Holdings Ltd., which has until Nov. 4 to firm up its $4.7 billion bid for BlackBerry Ltd., has yet to arrange financing to take the company private, said people with knowledge of the matter.
Fairfax Financial Holdings Ltd. has climbed to the highest level since 1999 after investments in Irish banking and Canadian cattle feed surged, more than offsetting any potential loss from a $4.7 billion bid for smartphone maker BlackBerry Ltd.
Goldman Sachs Group Inc. may be better off cutting its losses instead of fighting what it terms “unfounded” fraud claims, say professors of securities law who have examined the U.S. Securities and Exchange Commission’s lawsuit against the bank.