Are Cerberus/Co-Founders Still Planning to Bid for BlackBerry (BBRY)?
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BlackBerry (Nasdaq: BBRY) is up following a dip earlier this week on a potential takeover deal gone bust.
Today, Reuters said that a bidding group containing co-founders Mike Lazaridis and Doug Fregin, chipmaker Qualcomm (Nasdaq: QCOM), and private-equity outfit Cerberus Capital were planning to make a bid for BlackBerry. The group is said to have sent a letter to BlackBerry last weekend, asking for more time to finalize a deal.
The group was said to have been backed by Goldman Sachs.
However, Reuters noted that the group found BlackBerry uncooperative in providing key information, which included such items as specifics on its patent portfolio and current government contracts.
Reuters did say that the bidding group was evaluating options for its next move, though it wasn't mulled whether an offer would eventually come along or not.
Sources familiar with BlackBerry's thinking noted that any strategic and financial players had access to the company's books and were well aware of the Monday, November 4th deadline.
Whether the Cerberus/co-founders group will move forward is pure speculation at this point.
Shares are BlackBerry are up over 1 percent early Wednesday.
Today, Reuters said that a bidding group containing co-founders Mike Lazaridis and Doug Fregin, chipmaker Qualcomm (Nasdaq: QCOM), and private-equity outfit Cerberus Capital were planning to make a bid for BlackBerry. The group is said to have sent a letter to BlackBerry last weekend, asking for more time to finalize a deal.
The group was said to have been backed by Goldman Sachs.
However, Reuters noted that the group found BlackBerry uncooperative in providing key information, which included such items as specifics on its patent portfolio and current government contracts.
Reuters did say that the bidding group was evaluating options for its next move, though it wasn't mulled whether an offer would eventually come along or not.
Sources familiar with BlackBerry's thinking noted that any strategic and financial players had access to the company's books and were well aware of the Monday, November 4th deadline.
Whether the Cerberus/co-founders group will move forward is pure speculation at this point.
Shares are BlackBerry are up over 1 percent early Wednesday.
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