BlackBerry Founders Consider Takeover

Mike Lazaridis and Douglas Fregin, co-founders of the company now known as BlackBerry, are considering a bid that could save the embattled smartphone maker.

learn more about Lyneka Little

By Lyneka Little

Opinions expressed by Entrepreneur contributors are their own.

Would you buy back your old and failing company?

Mike Lazaridis and Douglas Fregin, co-founders of the company now known as BlackBerry, are considering a bid that could save the embattled smartphone maker.

The pair, who own 8 percent of the stock, are weighing options to take over the mobile company, according to filings. A Securities and Exchange Commission filing revealed the two co-founders 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."

Related: Smartphone Wars: 5 Things BlackBerry Could Have Done to Stay Competitive

Lazaridis and Fregin have hired Goldman, Sachs & Co. and Centerview Partners LLC to assist with their review of strategic alternatives.

The co-founders also plan to "work exclusively with each other with respect to any potential acquisition of all or a portion of the assets or equity interests."

Lazaridis and Fregin founded the company, formerly known as Research in Motion, back in 1985 along with Jim Balsillie. In September, the smartphone maker announced plans to layoff 40 percent of its staff and said the company would go private.

BlackBerry has already received a bid from Fairfax Financial Holdings of Toronto, its biggest shareholder, which has tentatively offered to buy 90 percent of the BlackBerry shares it currently does not own for $9 a piece.

Related: Despite Financial Troubles, BlackBerry Bought a Private Jet in July

Lyneka Little

Is a freelance writer in New York. She's written about personal finance and small business for such publications as The Wall Street Journal, MainStreet.com, Walletpop.com, People magazine. She also works as a freelance producer covering money at ABCNews.com. Little attended Howard University where she studied journalism. She loves drinking wine and tweeting, preferably at the same time. Follow Little on Twitter @Lyneka.

Related Topics

Editor's Pick

Everyone Wants to Get Close to Their Favorite Artist. Here's the Technology Making It a Reality — But Better.
The Highest-Paid, Highest-Profile People in Every Field Know This Communication Strategy
After Early Rejection From Publishers, This Author Self-Published Her Book and Sold More Than 500,000 Copies. Here's How She Did It.
Having Trouble Speaking Up in Meetings? Try This Strategy.
He Names Brands for Amazon, Meta and Forever 21, and Says This Is the Big Blank Space in the Naming Game
Leadership

Why Failure is a Choice You Make

Failure is a product of our mind and therefore we determine if it exists or not. Learn more empowering ways to view situations where failure becomes a stepping stone, not a roadblock.

Business News

'Wanted by Several Countries.' Crypto Fugitive Is Nabbed in Montenegro.

Do Kwon was wanted in South Korea and the U.S. on fraud charges related to TerraUSD and Luna crash.

Green Entrepreneur

A Massive Hole In the Sun May Cause Dazzling Light Show Here On Earth

NASA says the coronal hole could blast the Earth with solar winds as early as Friday. What does this mean?

Business News

These Are the Most and Least Affordable Places to Retire in The U.S.

The Northeast and West Coast are the least affordable, while areas in the Mountain State region tend to be ideal for retirees on a budget.

Business News

Gen Z Loves the Toyota Camry. Here's What Car Brands Boomers Love Most

S&P Global Mobility provides data on what types of each age group likes the most, based on car registration.