BlackBerry Calls Off Company Sale, CEO Heins to Step Down

BlackBerry announced yesterday that it will abandon a sale of the company, following two months of talks with potential buyers including Facebook, Lenovo and private equity firms. Instead, the struggling smartphone maker plans to raise $1 billion by issuing convertible notes to long-term investors including Fairfax Financial Holdings, the company’s largest shareholder. Additionally, BlackBerry said CEO Thorsten Heins will step down. The news resulted in a 16 percent drop in share price. Continue reading BlackBerry Calls Off Company Sale, CEO Heins to Step Down