Not so fast Fairfax
. BlackBerry co-founders Mike Lazaridis and Douglas Fregin filed papers fueling speculation they may be prepping their own bid for the struggling smartphone maker.
the two founders control 8 percent of BlackBerry vs. the roughly 10 percent controlled by Fairfax, which recently made its own U.S.$4.7 billion bid for the firm. While the securities filing by the founders sets the stage for an alternative bid for the firm, it also leaves their options open, noting that they could also take other steps, including selling their shares. BlackBerry is reportedly in talks with other suitors, including Cisco, Google and SAP. BlackBerry and Fairfax declined to comment.
Yankee Group Research Director Carl Howe comments
“I think the fact that so many people are interested in buying BlackBerry shows that rumors of its death are greatly exaggerated. BlackBerry is in no immediate danger of going under. What it is looking for, though, is time to re-establish its products in the corporate market, where the productivity and strong security delivered by BlackBerry products are still valued and where alternative products still haven’t caught up to what BlackBerry has off the shelf.
Going private—whether it is with Fairfax, the original founders or several other possible suitors, including Google—would buy the company time to refocus on the enterprise market and capitalize on investments it has already made in new products. More importantly, BlackBerry would be able to do so without suffering the quarter-to-quarter bashing it receives from Wall Street for not being Samsung or Apple.”