MacNN Forums (
-   Tech News (
-   -   BlackBerry co-founders considering joint takeover bid (

NewsPoster Oct 10, 2013 04:52 PM
BlackBerry co-founders considering joint takeover bid
BlackBerry founders Mike Lazaridis and Doug Fregin are reportedly considering a takeover bid for the company, according to a Securities and Exchange Commission <a href="" rel='nofollow'>filing</a> submitted Thursday. The pair, which together already hold an eight-percent stake, have teamed with Goldman Sachs and Centerview Partners to "explore the possibility of submitting a joint bid" to buy the rest of the outstanding shares. <br />
<br />
The filing has surfaced on the heels of a separate report suggesting Fairfax Financial Holdings may have to <A href="">back out of its $4.7 billion buyout offer</a>. The investment firm is said to have failed to secure outside funding necessary for the acquisition, sparking speculation that the struggling company may be broken up rather than sold as a single entity.<br />
<br />
Unnamed sources have <A href="">told</a> <em>AllThingsD</em> the co-founders are not collaborating with Fairfax Financial, which also holds a minority stake in the company.<br />
<br />
"The Special Committee, with the assistance of the Company's independent financial and legal advisors, is conducting a robust and thorough review of strategic alternatives," BlackBerry said in a statement. "We do not intend to disclose further developments with respect to the process until we approve a specific transaction or otherwise conclude the review of strategic alternatives."<br />
<br />
BlackBerry is said to be potentially worth more if its assets are split apart. The company currently holds $2.6 billion in cash, while some analysts estimate that its patents and enterprise network could collectively fetch as much as $4 billion from separate sales.
All times are GMT -4. The time now is 01:05 PM.

Copyright © 2005-2007 MacNN. All rights reserved.
Powered by vBulletin® Version 3.8.8
Copyright ©2000 - 2017, vBulletin Solutions, Inc.

Content Relevant URLs by vBSEO 3.3.2