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Sunday, November 3, 2013

Qualcomm and Cerberus may join bid with BlackBerry co-founders - The Economic Times



Qualcomm and Cerberus may join bid with BlackBerry co-founders - The Economic Times: "Inspite of BlackBerry's precarious financial mess, and falling market share the company still has multiple suitors.

A consortium that includes wireless company Qualcomm, private equity firm Cerberus Capital Management and BlackBerry's co-founders, Mike Lazaridis and Doug Fregin, is preparing a bid for the company ahead of a Monday deadline, according to people briefed on the process."

Details of the group's bid, which was first reported by The Wall Street Journal, were not clear. And the people briefed on the process said it could still fall apart.

In Qualcomm, the group has wireless experience and a large corporate entity that could backstop BlackBerry's losses. Cerberus brings cash to the table. And Lazaridis and Fregin own about 8 percent of the company's equity, easing the group's path to control.

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