Sep
27

Businesses compete over BlackBerry buyout

It was evident from the business performance of BlackBerry that it was struggling to stay afloat – a $1 billion loss in Q2 wasn’t flattering at all.

Everyone knows that shareholder Fairfax Financial offered to acquire the brand for $4.7 billion but there is time till 4 November to close the deal. But it now appears that BlackBerry is keen to look at some other options too.

Now it appears from WSJ reports that BlackBerry’s open relationship is now wobbling as investor Cerberus Capital Management is looking to pitch into the buyout field.

Cerberus Capital Management specializes in distressed assets and it could become the saviour for the beleaguered Canadian company. There is information that Cerberus Capital Management is planning a confidential agreement with BlackBerry to access its financial information.

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Another buyer is also lurking and it will be interesting to see which way BlackBerry heads. Former CEO Mike Lazaridis may also throw in a bid.

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