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 19 percent to $6.33 in premarket trading. BlackBerry's largest shareholder, Fairfax Financial Holdings Ltd, will take up $250 million of the debentures. Fairfax announced a tentative $9-a-share offer for the Waterloo, Ontario-based company in late September.

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