BlackBerry founder looks at takeover

BlackBerry's employees prepare the launch event for the company's new smartphones in London early this year.
BlackBerry's employees prepare the launch event for the company's new smartphones in London early this year.

BlackBerry founder Mike Lazaridis says he's looking at making a potential takeover bid for the struggling smartphone company.

Lazaridis, a major shareholder, said Thursday 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 don't currently own, either by themselves or with other interested parties. Together, they own about 16 per cent 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 $4.7 billion. 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.

-AP

Get the news delivered straight to your inbox

Receive the day’s news, sport and entertainment in our daily email newsletter

SIGN UP NOW

© Copyright 2016, NZME. Publishing Limited

Assembled by: (static) on production apcf04 at 26 Sep 2016 16:47:51 Processing Time: 669ms