Struggling smartphone maker Blackberry has agreed in principle to be bought by a consortium led by Fairfax Financial for $4.7bn (£3bn).
Blackberry said in statement that Fairfax, its largest shareholder with about 10% of the stock, had offered $9 a share in cash to buy the company.
But Blackberry said it would continue to explore other options while negotiations with Fairfax continued.
On Friday, Blackberry announced 4,500 jobs cuts in a bid to stem losses.
The Canadian company said it expected to make a loss of up to $1bn after poor sales of its new handsets. In August, Blackberry said it was evaluating a possible sale.
On Monday, the company announced that it had “signed a letter of intent agreement under which a consortium to be led by Fairfax Financial Holdings Limited has offered to acquire the company subject to due diligence”.
For full news : BBC News UK