Reuters: Technology News: BlackBerry shares rise on report Cerberus may wish to bid

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BlackBerry shares rise on report Cerberus may wish to bid Oct 2nd 2013, 17:38 Tweet Share this Email Print The company logo is see at the Blackberry campus in Waterloo, September 23, 2013. Credit: Reuters/Mark Blinch TORONTO | Wed Oct 2, 2013 9:28am EDT TORONTO (Reuters) - BlackBerry Ltd expects to take $400 million in pre-tax charges related to cost-cutting, quadruple its estimate of $100 million earlier this year, the smartphone maker said in a regulatory filing late on Tuesday. The company expects to spend $400 million in severance, "network simplification costs" and other expenses in this fiscal year and the first quarter of next year combined. In the first quarter it said it would take charges of $100 million for the current fiscal year, ending March 1, 2014. BlackBerry, which has lost market share to Apple Inc's iPhone and phones that run Google Inc's Android operating system, said last month it planned to shed 4,500 jobs, more than one-third of its workforce. The company has signed a tentative $9-a-share agreement to be acquired and taken private by a consortium led by Fairfax Financial Holdings Ltd. But its stock has languished well below the offer price, a sign investors are skeptical the deal will succeed. (Reporting by Allison Martell; Editing by Jeffrey Benkoe) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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