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-   -   BlackBerry co-founders considering joint takeover bid (http://forums.macnn.com/113/tech-news/504865/blackberry-co-founders-considering-joint-takeover/)

 
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="http://macnn.com/rd/295994==http://www.sec.gov/Archives/edgar/data/1070235/000119312513396388/d610704dsc13d.htm" 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 />
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The filing has surfaced on the heels of a separate report suggesting Fairfax Financial Holdings may have to <A href="http://www.electronista.com/articles/13/10/10/fairfax.may.be.forced.to.pay.fee/">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 />
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Unnamed sources have <A href="http://allthingsd.com/20131010/blackberry-co-founders-lazaridis-fregin-mulling-bid-to-buy-back-company/">told</a> <em>AllThingsD</em> the co-founders are not collaborating with Fairfax Financial, which also holds a minority stake in the company.<br />
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"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 />
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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.
 
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