Over the past few years, the world has witness BlackBerry stocks plummeting. Recently, Blackberry has decided to sign a provisional agreement to be purchased by Fairfax Financial Holdings Limited, a Toronto based company who is currently BlackBerry’s largest shareholder, owning 10% of the publicly traded stocks. As a result, Blackberry would no longer be a publicly traded stock, but rather a private company. This deal would also allow current BlackBerry’s current shareholders to walk away with nine US dollars for each share they own. The transaction valued to be at $4.7 billion, much less than the $83 billion the company was once worth.

The sale is contingent upon the approval of regulators, and shareholders. Up until November 4th, where a final transaction agreement would be in place, BlackBerry still has the right to “actively solicit, receive, evaluate” and “negotiate with other parties” and look around for alternative proposals. (CBC)

With the launching of the new Blackberry Z30 and competitor offerings from Samsung and Apple, there are speculations of whether or not the transaction will actually go through, but with benefits of keep stock prices from further declining. The stock remained unchanged from Friday September 20th to Monday the 23rd, and has since dropped to $8.80 on the Toronto Stock Exchange.

Only time will tell what is in store for BlackBerry’s future.