On Monday, Fairfax Financial pulled out of its $9 a share purchase of BlackBerry. The company's largest shareholder not only couldn't find financing for its bid, it also felt that this was not the time to invest in an LBO. The deal was scrapped and instead, Fairfax said that it would lead a $1 billion investment in the beleaguered manufacturer. BlackBerry will sell convertible debt, and Fairfax itself will take down $250 million of the paper.
On Thursday, the Wall Street Journal listed the names of the other investors in the Canadian company, as listed in a regulatory filing made by Fairfax. For example, Ontario-based Canso Investment Counsel Ltd bought the biggest slice of the debt, $300 million. Other names in the group include Toronto firms Mackenzie Financial Corp. and Brookfield Asset Management Inc. Other investors include Markel Corp.out of Virginia, and Qatar Holding LLC.