BlackBerry founder looking at buying company

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Associated Press

Posted on October 10, 2013 at 4:07 PM

TORONTO (AP) — BlackBerry founder Mike Lazaridis says he's looking at making a potential takeover bid for the struggling smartphone company.

Lazaridis, a major shareholder, said Thursday in filing with the Securities and Exchange Commission that he and Douglas Fregin, who helped launch the company, are looking to potentially acquire all of the shares they don't currently own, either by themselves or with other interested parties. The filing says the two own 8 percent of BlackBerry.

BlackBerry announced last month that Fairfax Financial Holdings Ltd. signed a letter of intent that "contemplates" buying the Canadian company for $9 a share, or $4.7 billion. Fairfax, BlackBerry's largest shareholder, is trying to attract other investors.

Private equity firm Cerberus is also interested in looking at Blackberry's books as a step toward a possible bid.

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