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Blackberry Abandons Plan to Sell Company

BlackBerry Ltd is abandoning a plan to sell itself and instead will replace its chief executive officer and raise about $1 billion from institutional investors, including its largest shareholder, the smartphone maker said on Monday. Shares of BlackBerry dropped 16.3 percent to $6.50 in premarket trading. The company said it would raise the money with a private placement of convertible debentures. John Chen will be appointed executive chairman and will be interim CEO while ...

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