independent

Monday 21 April 2014

BlackBerry founder Mike Lazaridis eyes comeback with new bid for his struggling old firm

BalckBerry founder Mike Lazaridis
BalckBerry founder Mike Lazaridis

BlackBerry founder Mike Lazaridis is looking at making a potential takeover bid for the struggling smartphone company.

Mr Lazaridis, a major shareholder, said today in filing with the Securities and Exchange Commission that he and Douglas Fregin, who helped launch the company, are looking to potentially acquire all of the shares they do not currently own, either by themselves or with other interested parties. Together, they own about 16% of BlackBerry.

BlackBerry announced last month that Fairfax Financial Holdings Ltd. signed a letter of intent that "contemplates" buying the Canadian company for $9 a share, or $4.7bn. Fairfax, BlackBerry's largest shareholder, is trying to attract other investors.

Private equity firm Cerberus is also interested in looking at Blackberry's books as a step toward a possible bid.

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