23 September 2013 Last updated at 13:50 ET
Struggling smartphone maker Blackberry has agreed in principal to be bought by a consortium led by Fairfax Financial for $4.7bn (£3bn).
Blackberry said in statement that Fairfax, its largest shareholder, had offered $9 a share cash to buy the company.
Trading in Blackberry shares were halted in New York pending the announcement.
On Friday, Blackberry announced 4,500 jobs cuts in a bid to stem losses.
In August, the Canadian company said it was evaluating a possible sale.
Source: BBC News - Business http://www.bbc.co.uk/news/business-24214301#sa-ns_mchannel=rss&ns_source=PublicRSS20-sa
