Cerberus interested in BlackBerry

October 2nd, 2013 by Rob Gillies in Technology / Business
The New York headquarters of Cerberus Capital Management, a private equity group on May 15, 2007


The New York headquarters of Cerberus Capital Management, a private equity group on May 15, 2007

Private equity firm Cerberus is interested in taking a look at BlackBerry's books as a prelude to a possible bid for the troubled smartphone company.

Cerberus is looking to sign a confidentiality agreement with BlackBerry that would allow it to access the company's private information, an official familiar with the situation said Wednesday on condition of anonymity. The official spoke on condition of anonymity because the person was not authorized to discuss the private talks.

BlackBerry announced last month that Fairfax Financial Holdings Ltd. signed a letter of intent that "contemplates" buying BlackBerry for $9 a share, or $4.7 billion. Fairfax, BlackBerry's largest shareholder, is trying to attract other investors. BlackBerry is allowed to look for other buyers while Fairfax conducts six weeks of due diligence.

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"Cerberus interested in BlackBerry." October 2nd, 2013. http://phys.org/news/2013-10-cerberus-fund-blackberry.html