Cerberus interested in BlackBerry

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.


Explore further

BlackBerry co-founder 'in joint bid talks'

© 2013 The Associated Press. All rights reserved.

Citation: Cerberus interested in BlackBerry (2013, October 2) retrieved 15 October 2019 from https://phys.org/news/2013-10-cerberus-fund-blackberry.html
This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.
0 shares

Feedback to editors

User comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more