BlackBerry CEO Leaves as Company Remains Public

Thorsten Heins' departure is part of a $1 billion investment deal to keep the company afloat.
1:43 | 11/04/13

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Transcript for BlackBerry CEO Leaves as Company Remains Public
The bidding battle for Blackberry apparently might be over the stock. -- -- more than 18% after Fairfax financial dropped its offer to buy Blackberry overnight instead Fairfax we understand will provide the Smart phone company. With a billion dollars of convertible debt and Blackberry announced its gonna do a -- of its top management. This is a pretty big deal Mike four for blackberries you know come back here and -- is this gonna make any sort of difference can they really turn around sales. No I don't think it really is gonna drive anything in the actual business of selling Smartphones so by the way -- -- is going to invest a quarter of that billion dollars so. -- Fairfax and other investors. -- pledged to commit about a billion dollars in convertible securities at relatively generous terms. And that's a little bit worrisome I think to investors because one of the things people -- set it up like there was have a lot of cash in big cash -- didn't need the money. So they feel the need for billion dollars new capital right now that's very reassurance. The bigger picture though is neither fair -- nor other buyers could come in get financing and get the confidence to buy the whole company outright for the nine dollars a share the -- facts have been offering. So clearly I I see it now is -- salvage operation what are the business is worth separate or together. And how might you sell that or otherwise you know kind of -- good on that value for up for investors right now clearly the market is saying. That you know without any buyers after this months long effort to find somebody out there -- might come to the rescue. Sort of all bets are off we don't really know. What the future holds for the business parent meanwhile I'm still addicted to my Blackberry -- than -- basically and other pending as that product I don't think it's comical way of their. If there remain such a big installed base but just in terms of growth that the that Wall Street demands simply not there.

This transcript has been automatically generated and may not be 100% accurate.

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