BlackBerry Founders Consider Buying Company

BlackBerry founders aren't the only ones eyeing BlackBerry

   

Blackberry 185 BlackBerry Founders Consider Buying CompanyBlackBerry (BBRY) founders Mike Lazaridis and Douglas Fregin, who currently own 8% of the company’s shares, are considering buying the company.

The two are planning to purchase the 92% of BlackBerry shares that they don’t already own. They have hired Goldman Sachs (GS) and Centerview Partners to help them with the purchase. BlackBerry has considered a possible sale as well as a break-up. The company has recently laid off 4,500 employees and posted almost $1 billion in losses last quarter. Also interested in purchasing BlackBerry is Fairfax Financial Holdings (FRFHF), which owns about 10% of the company and is its largest shareholder. The company has considered buying BlackBerry for $4.7 billion, or $9 a share. Both the founders and Fairfax don’t intend to breaking up the company and are instead interested in stabilizing it, reports the Associated Press.

According to people close to the matter, Lazaridis has approached  the Blackstone Group (BX) and the Carlyle Group (CG) while searching for potential partners for a bid in BlackBerry.


Article printed from InvestorPlace Media, http://investorplace.com/2013/10/blackberry-founders-consider-buying-company/.

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