BlackBerry Ltd (BBRY) Co-Founder Mike Lazaridis And Doug Fregin Considering Rival Bid

Posted Oct 10, 2013

According to an SEC filing, BlackBerry Ltd (NASDAQ:BBRY) co-founder and former co-CEO Mike Lazaridis is considering making a bid for the company along with a fellow co-founder at the company, Doug Fregin.  BlackBerry is currently mulling an offer from Fairfax Financial for $4.7 billion.

Lazaridis and Fregin own a combined 8% stake in BlackBerry, which is equivalent to around 41.7 million shares.  The two of them are exploring ?the possibility of submitting a potential joint bid to acquire? all of the BlackBerry shares that they do not already own.

BlackBerry Ltd (NASDAQ:BBRY) executives have hired Goldman Sachs and Centerview Partners to help with this process.  Lazaridis and Fregin are not working with Fairfax on this deal.

?The Special Committee, with the assistance of the Company?s independent financial and legal advisors, is conducting a robust and thorough review of 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.

[Source: AllThingsD]