updated 04:33 pm EDT, Thu October 10, 2013
Lazaridis and Fregin said to be in talks with investment firms
BlackBerry founders Mike Lazaridis and Doug Fregin are reportedly considering a takeover bid for the company, according to a Securities and Exchange Commission filing submitted Thursday. The pair, which together already hold an eight-percent stake, have teamed with Goldman Sachs and Centerview Partners to "explore the possibility of submitting a joint bid" to buy the rest of the outstanding shares.
The filing has surfaced on the heels of a separate report suggesting Fairfax Financial Holdings may have to back out of its $4.7 billion buyout offer. The investment firm is said to have failed to secure outside funding necessary for the acquisition, sparking speculation that the struggling company may be broken up rather than sold as a single entity.
Unnamed sources have told AllThingsD the co-founders are not collaborating with Fairfax Financial, which also holds a minority stake in the company.
"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," BlackBerry said in a statement. "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."
BlackBerry is said to be potentially worth more if its assets are split apart. The company currently holds $2.6 billion in cash, while some analysts estimate that its patents and enterprise network could collectively fetch as much as $4 billion from separate sales.