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Blackberry also looking for buyout

Blackberry who is facing a strong competition from Apple and other smartphone maker in the market is bidding for a tentative $4.7 billion buyout. The bid was announced by top shareholder Fair fax Financial Holdings Ltd., although Fair fax isn't committing money to the bid beyond its stake which is 9.9 percent worth $457 million. The rest of the purchase is financed by other investors. Blackberry shares rose 1.1 percent to $8.82 after the deal was announced.