Lenovo Group Limited (0992) Is Considering A Bid On BlackBerry
The Wall Street Journal has reported that Lenovo Group Limited (HKG:0992) is considering a bid on smartphone company BlackBerry. The WSJ cited people familiar with the matter. Lenovo reportedly signed a non-disclosure agreement that allows them to examine BlackBerry’s books.
BlackBerry’s special committee is required to examine the future of the company by looking at “strategic alternatives.”
“We do not intend to disclose further developments with respect to the process until we approve a specific transaction or otherwise conclude the review of strategic alternatives,” said BlackBerry in a statement.
BlackBerry became open to a sale this year when BlackBerry 10 failed to meet expectations.
BlackBerry still has a large number of corporate and government customers so an acquisition from international companies could be scrutinized, especially considering that Lenovo is a China based company.
There are two groups interested in buying out BlackBerry. Fairfax Financial Holdings offered $4.7 billion for BlackBerry, but that is not finalized yet. BlackBerry co-founder Mike Lazaridis is talking to a group that would be interested in buying the company.