Co-founders mull bid for BlackBerry
TORONTO: BlackBerry Ltd co-founders Mike Lazaridis and Douglas Fregin
are considering a bid to buy the struggling smartphone maker, according
to a securities filing on Thursday, raising the prospect of an
alternative to a $4.7 billion offer led by its top shareholder.
The filing did not indicate whether the pair was planning to join or to present an alternative to a tentative $9-a-share bid by a group led by Fairfax Financial Holdings Ltd.
Fairfax, which is headed by financier Prem Watsa, has not yet identified other members of the group.
The filing did not indicate whether the pair was planning to join or to present an alternative to a tentative $9-a-share bid by a group led by Fairfax Financial Holdings Ltd.
Fairfax, which is headed by financier Prem Watsa, has not yet identified other members of the group.
Lazaridis and Fregin together control some 8% of BlackBerry, the
filing said. That compares with roughly 10% controlled by Fairfax.
Excluding Fregin’s shares, Lazaridis controls 5.7% of BlackBerry, or about 60,000 shares more than he did at the end of 2012, according to Thomson Reuters data.
Lazaridis, who until early last year was one of BlackBerry’s co-chief executives and co-chairmen, appears to be considering “the widest range of options possible,” BGC Partners technology analyst Colin Gillis said. “He’s going to talk to people by himself; he’s going to talk to Prem; he’s going to talk to everybody.”
Fairfax declined to comment on the Lazaridis filing, which noted
that while Lazaridis and Fregin could make an offer, they could opt to
take other steps, including selling their shares.
Excluding Fregin’s shares, Lazaridis controls 5.7% of BlackBerry, or about 60,000 shares more than he did at the end of 2012, according to Thomson Reuters data.
Lazaridis, who until early last year was one of BlackBerry’s co-chief executives and co-chairmen, appears to be considering “the widest range of options possible,” BGC Partners technology analyst Colin Gillis said. “He’s going to talk to people by himself; he’s going to talk to Prem; he’s going to talk to everybody.”
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