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OTTAWA (AFP) – BlackBerry announced Monday it agreed to a $4.7 billion buyout by a consortium of investors who plan to take the struggling Canadian smartphone maker private.

The company said in a statement that it has “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.”

Fairfax, a Canadian firm, is already BlackBerry’s largest shareholder with approximately 10 percent of its shares.

Under the proposed deal the consortium would offer $9 for each outstanding share, and Fairfax would contribute its own shares in the transaction.

BlackBerry said its board of directors said support the plan.

A firm deal, once due diligence is completed, is expected to be announced by November 4. It hinges also on the consortium obtaining financing.

BlackBerry said it would continue a search for a possibly better suitor in the interim.

On Friday, the company announced it was laying off 40 percent of its workforce after a dismal launch of new smartphones earlier this year.

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Riley June Williams inside the Capitol

Screenshot from Scooter Pierce/ Twitter

Reprinted with permission from DailyKos

Joining the increasing number of Trump supporters arrested after storming the Capitol on Jan. 6, a Pennsylvania woman who allegedly took a laptop belonging to Speaker Nancy Pelosi was arrested Monday. The woman, identified as 22-year-old Riley June Williams, is charged with intentionally entering into a restricted building without lawful authority in addition to disorderly conduct on Capitol grounds. While Williams has not yet been charged with theft, the FBI is investigating the matter and what her intentions were.

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