Davis Polk is advising J.P. Morgan, as financial adviser to BlackBerry Limited, in connection with its agreement with Fairfax Financial Holdings Limited which contemplates a consortium led by Fairfax acquiring all of Blackberry in a transaction that would value Blackberry at $4.7 billion. Fairfax currently owns approximately 10% of BlackBerry’s common shares. The transaction, which is subject to conditions, permits Blackberry to undertake a go-shop process to determine if there are alternatives superior to the transaction with Fairfax.

Founded in 1984 and based in Waterloo, Ontario, BlackBerry is a telecommunication and wireless equipment company and developer of the BlackBerry brand of smartphones and tablets. Fairfax Financial Holdings, headquartered in Toronto, Canada, is a financial services holding company engaged in property and casualty insurance and reinsurance and investment management.

The Davis Polk corporate team includes partner Phillip R. Mills of the New York office.