BlackBerry Ltd. co-founder and former Chief Executive Officer Mike Lazaridis walked away from a possible takeover plan and reduced his stake in the struggling smartphone maker after it ended an attempt to sell itself.
BlackBerry Ltd. co-founder Mike Lazaridis’s potential bid for the struggling smartphone maker would face a battle for financing with Canadian investor Prem Watsa, who’s looking to take it private with his own buyout.
Mike Lazaridis, inventor of the BlackBerry smartphone, is starting a C$100 million ($97 million) quantum technology fund that’s aiming to turn devices like the medical tricorder from “Star Trek” into reality.
Fairfax Financial Holdings Ltd., which has until Nov. 4 to firm up its $4.7 billion bid for BlackBerry Ltd., has yet to arrange financing to take the company private, said people with knowledge of the matter.
BlackBerry founder Mike Lazaridis said he’s confident that users of iPhones and other devices will embrace the company’s BlackBerry Messenger platform, which will be offered on rival phones later this year.
Cerberus Capital Management LP, which has teamed up with BlackBerry Ltd. co-founder Mike Lazaridis to explore a bid for the struggling smartphone maker, is in talks with Qualcomm Inc. about having the chipmaker join the coalition, two people familiar with the talks said.
BlackBerry Ltd., coping with the collapse of a $4.7 billion buyout by Fairfax Financial Holdings Ltd., will raise $1 billion in convertible bonds and seek a new chief executive officer for the struggling company.