BlackBerry co-founders mull buyout bid

Dylan Bushell-Embling
11 Oct 2013
00:00
News
Daily News

BlackBerry may attract another set of suitors interested in mounting a buyout bid – suitors sharing a long history with the company.

BlackBerry co-founders Mike Lazaridis and Douglas Fregin are exploring the possibility of submitting a potential joint bid for the smartphone maker, a regulatory filing shows.

The filing states that they are considering all available options, including submitting a bid alone or with other interested investors, raising the prospect of a team-up with Fairfax Financial over its $4.7 billion buyout offer.

Lazaridis is former co-CEO, president and co-chair of BlackBerry, while Fregin is a former vice-president of operations.

Given that investors are skeptical that Fairfax will be able to raise the funds for its $9 per share tentative offer, or that it will remain at that price after due diligence is conducted, more interest is good news for BlackBerry.

Lazaridis has increased its stake in BlackBerry to around 8%. Fairfax owns around 10%.

Rumors have it that at least one distressed-company investor is interested in making its own offer.

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