Lazaridis May Team with Cerberus to Pursue BlackBerry
Updated: added reference to Qualcomm.
Former BlackBerry CEO and co-founder Mike Lazaridis is close to reaching an agreement with private equity firm Cerberus that would see them make a joint bid for the ailing smartphone maker. According to sources cited by the Wall Street Journal, Lazaridis and another co-founder of BlackBerry, Doug Fregin, may combine their own shares with capital from Cerberus. BlackBerry already has an offer on the table from Fairfax Financial Holdings with a November 4 deadline attached. If no other legitimate offers come through before November 4, Fairfax can move forward with its bid to acquire the company and take it private. Both Cerberus and Lazaridis have previously and separately made noise about making bids for BlackBerry. Several other firms have expressed interest, too, but no solid offers have been made other than the one from Fairfax. The Journal's sources say that while a deal between Lazaridis and Cerberus is a possibility, they may not make a bid in time to beat the November 4 deadline. Following its initial report, the Journal later reported that Qualcomm is talking to Lazaridis and Cerberus, as well.
They should Hire!