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BlackBerry deal disappoints pro traders

Will the BlackBerry deal happen?

Shares of BlackBerry closed higher Monday after the smartphone maker said it would be acquired by Canadian insurance company Fairfax Financial, for $9 a share, in a deal totaling $4.7 billion.

In the wake of the deal, in which BlackBerry will go private, it seems some professional traders are less than enthused. After all, BlackBerry's stock only ended the session 1 percent higher.

"I was unhappy with the response the stock got out of the news," said Steve Grasso, director of institutional sales at Stuart Frankel. "I think it should have held at least above $9, but you obviously see that there was no loan security and that was apparent in the stock price."

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