BlackBerry co-founder and former chief executive Mike Lazaridis is said to be considering a bid to buy the company as the saga over the future of the samrtphone maker continues.
A filing with the Securities and Exchange Commission (SEC) reveals that Lazaridis and a second major shareholder and founder, Douglas Fregin, are considering a bid to rival that of Fairfax Financials Holdings announced last month. Lazaridis himself owns just under six percent of BlackBerry shares.
“Lazaridis and Fregin are considering all available options with respect to their holdings of the Shares, including, without limitation, a potential acquisition of all the outstanding Shares of the Issuer that they do not currently own, either by themselves or with other interested investors," the filing said.
Currently, BlackBerry is also considering a bid worth $9 a share for the company from Fairfax Financial Holdings, which has the largest stake in BlackBerry.
Investors may well welcome a second bid from other major shareholders, as it could lead to an improved offer on the table or a mini-bidding war that raises the price above the initital $9 offering. However, investors may wish to consider whether the return of one of the executives who was in charge of BlackBerry during its decline would be good news for the company.
BlackBerry finds itself in this position after a long period of falling sales, with huge losses of $934m attributed to low demand for its recent Z10 smartphone, which forced it to seek the possibility of a buyout from interested parties.
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