Co-founders Lazaridis and Fregin consider BlackBerry takeover bid

By Staff, The Canadian Press
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According to documents filed with the U.S. Securities and Exchange Commission, the two are 'interested in pursuing a joint bid' with 'the goal of stabilizing and ultimately reinventing the company.'

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[TORONTO, ON] - BlackBerry co-founders Mike Lazaridis and Douglas Fregin are looking at making a potential takeover bid for the troubled smartphone maker (TSX:BB).

According to documents filed with the U.S. Securities and Exchange Commission, the two are "interested in pursuing a joint bid" with "the goal of stabilizing and ultimately reinventing the company."

BlackBerry has struggled this year as sales of its latest smartphones failed to catch fire.

The company launched a strategic review to explore its options including the possible sale or break up of its operations.

Fairfax Financial (TSX:FFH), BlackBerry's largest shareholder, has made a conditional takeover bid worth $9 per share, which values the company at $4.7 billion.

Together Lazaridis and Fregin own roughly an eight per cent stake in BlackBerry.

Organizations: TSX, U.S. Securities and Exchange Commission

Geographic location: TORONTO

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