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Blackberry for sale, receives buyout offer from Fairfax Financial
Blackberry is begging its customers to stay loyal. Blackberry published an open letter in newspapers around the world Tuesday that touts its technology and financial position.
The ad stresses that the embattled smartphone maker has substantial cash on hand and no debt. The letter also talks up Blackberry's social network, security features and corporate appeal. What the letter does not mention is that Blackberry is for sale and has received a preliminary $4.7 billion buyout offer from Fairfax Financial. Blackberry announced last month that it plans to lay off 40 percent of its global workforce by the end of the year.