TORONTO (AP) - BlackBerry has agreed to sell itself for $4.7 billion to a group led by largest shareholder, Fairfax.
BlackBerry said Monday that a letter of intent has been signed and its shareholders will receive $9 in cash for each share.
Fairfax head Prem Watsa is a former board member who owns 10 percent of BlackBerry. Watsa stepped down when BlackBerry announced it was considering a sale last month. The billionaire is one of Canada's best-known value investors. .
Trading of the company's stock was halted ahead of the news. BlackBerry shares plunged after the company announced Friday a loss of nearly $1 billion and layoffs of 4,500 workers.
The BlackBerry, pioneered in 1999, was once the dominant smartphone for on-the-go business people and other consumers before Apple's iPhone debuted in 2007.
SPRINGFIELD, Mo. (AP) - A Springfield utility is planning to partner with two companies to build what would be the largest solar farm in Missouri.
City Utilities says it will work with Solexus Development in St. Louis and Strata Solar of North Carolina to build the 4.95 megawatt system, with construction to begin next spring.
The Springfield News-Leader reports the companies expect to finalize a contract Monday. The system will be built on 57 acres next to an existing City Utilities generation station near Springfield.
Under the 25-year agreement, Solexus will develop the project and Strata Solar will build, finance and operate it. City Utilities' will connect the system to existing infrastructure, then buy the solar power the system produces.
The system is expected to produce about 9.6 million kilowatt hours per year.
Fans of the one and only Cher will have a chance to see the music icon in the Gateway City next year as the she announced Monday that she will kick off her “Dressed To Kill” North American Tour beginning in Phoenix on March 22. The 67 year old will embark on the 49 city tour which will include stops in New York, Los Angeles, Boston and Las Vegas. Cher will appear in St. Louis at Scottrade Center on Wednesday, June 4. She has scheduled concerts in Kansas City and Louisville in the days before she is in St. Louis, and in Milwaukee and Chicago in the days after. Updated ticket information can be found on Cher.com. Cher will also be appearing as a mentor with Blake Shelton on NBC’s The Voice airing in October.
The many issues surrounding education in Missouri has lawmakers taking a closer look at student transfers, teacher evaluations and school safety. An interim House committee on education is holding hearings on those and other topics this week in several communities. Meetings today in St. Charles and St. Louis will focus on student transfers out of unaccredited districts. This fall, students from the Riverview Gardens and Normandy districts became the first in Missouri to transfer to neighboring districts. Meanwhile, the Joint Committee on Education has scheduled a hearing October 1 in Jefferson City focused solely on student transfers.