[morganplus8]

He has had a couple run ins with some hedgies down south...they all sued each other and I do believe Prem lost. That's buisness and not really sure how it speaks to his character.

Posted via CB10

RE:Prem,

I have to look it up but I do know he went after Cohen at SAC Capital and I believe he won that case? Back in 2004 going forward??? Cohen will be doing time in a square room with no swimming pool or sauna now.

[peter9477]

I think he lost at the time, but that was before there was a criminal conviction against whoever (Cohen? I guess) which basically proved Fairfax had been right. I remember reading an article that said Fairfax would be refiling, with an expectation of getting a favourable ruling this time around, though that may have been the author speculating.

[morganplus8]

I think he lost at the time, but that was before there was a criminal conviction against whoever (Cohen? I guess) which basically proved Fairfax had been right. I remember reading an article that said Fairfax would be refiling, with an expectation of getting a favourable ruling this time around, though that may have been the author speculating.

I believe you are right sir:

SAC Dismissal From New Jersey Lawsuit Appealed by Fairfax - Bloomberg

[anon(4086547)]

Aren't Prem and Laz "boys" that go way back? I know this is business but am I the only one who thinks something fishy is going on? It could be good or it could be bad...

Exactly! Makes much more sense for them to have one bid together, instead of competing and driving the price higher. I think that's what they are going to do.

[BBNation]

I can't understand why you feel that way. There is no offer, nothing, just some talk about taking the company private. There are no credible sources stepping up and saying they want to buy BlackBerry, you no why? I believe it is because they are in talks. Do you think that anyone close to the action would risk their lives talking to the Wall Street Enquirer? NO! We get 3 weeks into a "possible" offer to purchase, and everyone is going crazy! LOL

The stock is higher than it would be if it weren't for all of this noise. To think it should be at $ 9.00 because Mike is holding hands with another man isn't what makes arbs part with their money. They already own stock and can't just keep buying into the fluff of the media. They need to know that the end game is $ 9.00 or more. If Mike comes along tomorrow and announces that he has made a firm offer for BB at $ 11.00/shr and he has the blessing of Prem to turn over his shares, then you will see $ 11.00/shr. The news has to be more than just street talk.

I find it more interesting that Mike is not on the deal with Prem, he also sees huge potential in BBRY, it must be huge to come out of retirement. Others will see this too. Mike is a genius, he will crunch the numbers and come back with a decent offer.
I don't see the stock going to an arbitrary price like $ 9.00/shr until there is an offer to purchase the company for the same.

Based on what I heard so far on this.

- Prem is trying to reduce his losses by his bid of $9 as he knows he can make more in future and he is fine to hold it for another 2 years.
- Prem has been in news more than ever, infact more than in last 2 weeks then his entire life so his reputation at stake. sometime it's the reputation and egos more than money for some people.
- Mike is same as Prem but not working together. Reason, may be he does not trust prem that he might sell it in parts as he knows nothing about tech sector.
- Mike wants to keep the BB as it is in one peace, come back to it with fresh management, correct all mistakes and this time he does not have to deal with wall street or media.
- Nice thing about them both truly Canadian and wants to keep or help BB live as much as they can..
- Both also inviting others to come and compete so both regain some losses.

[BBNation]

Interesting read from another board.


The filing stated that Mike and Doug did not acquire any stock 60 days prior to filing, which means they acquired the stock before Prem made the offer on 09/23 and resigned from the board for conflict of interest 08/13. Which is 60 days to todays filing, this sounds as if Mike and Doug planned to take private and then Prem found out and decided no he wanted BlackBerry. Prem may have learned when Mike and Doug exercised various options to buy stock prior to Prem leaving?

Does this make sense Less
2 Replies to blaurute23
blaurute23 • 1 hour 36 minutes ago
0users liked this postsusers disliked this posts0Reply
The time of Prem resigning is in line right after Mike and Doug accumulated all the shares (outside of the 5 some % Mike previously reportedly owned). I looked at he fiing and it states "Thre have been no transactions with respect to the Shares during the sixty days prior to the date of filing of this Schedule 13D by any Reporting Person" so Prem must have learned they were gonig to take it over and then left the board? ? Not sure but the timing is interesting!

Also the filing does not preclude Mike and Doug of buying anymore shares or exercising any other options they may hold since the 13D filing today going forward.

Share your thoughts

[peter9477]

2 Replies to blaurute23
blaurute23 • 1 hour 36 minutes ago
0users liked this postsusers disliked this posts0Reply
The time of Prem resigning is in line right after Mike and Doug accumulated all the shares (outside of the 5 some % Mike previously reportedly owned). I looked at he fiing and it states "Thre have been no transactions with respect to the Shares during the sixty days prior to the date of filing of this Schedule 13D by any Reporting Person" so Prem must have learned they were gonig to take it over and then left the board? ? Not sure but the timing is interesting!

That poster seems to think that this 8% represents an increase from their previous positions: "accumulated all the shares (outside of the 5 some % Mike previously reportedly owned".

The poster is probably wrong, since there's no indication they've done anything here other than agreeing to vote their shares together, and filing with the SEC.

With that change in the facts underlying his premise he might see it differently.

[fin2007]

I know but a 12% premium in a short time span from a solid buyer? If Warren Buffet had offered $9/share the SP would be trading right near $9, probably higher after today's news. I just can't believe the distrust people seem to have for the PW offer, very disrespectful. Is ML going to offer less than $9, can't see that either.

M+8- I just thought PW's reputation and his statements about not looking to lower the price would have been enough for the arbs. Now with all this other activity it sure looks like $9 is a at least a decent starting point.

The key is that he can walk away without a penalty. That tells either how desperate BBRY BOD were or BBRY BOD were just so stupid, I would believe the former.

It is just so unfair for other stock holders. It is like saying I make a $5 offer and if anyone bid higher than me I will get $150M.

Basically he stole $0.3 per share from all other shareholders without any penalty.
Just think about it.

[INTz]

http://tpt.to/a3W3Tvp

Now is the time to get xBBM going BlackBerry! Let's do this.

Posted via CB10

[Shanerredflag]

http://tpt.to/a3W3Tvp

Now is the time to get xBBM going BlackBerry! Let's do this.

Posted via CB10

Four more sleeps and the Z30 will cure what ales em here in Canada.

Posted via CB10

[INTz]

Four more sleeps and the Z30 will cure what ales em here in Canada.

Posted via CB10

Thinking of grabbing one.....

Posted via CB10

[Bacon Munchers]

The market is reflecting, quite honestly, Watsa's reputation.

You people need to figure out who you're cheering for.

I can't speak for anyone else, but I am cheering for the person, or persons who end up putting the most money back in my tunic at the end of this deal, AND allows me to continue using my Z10.

My take on the latest is a little colored from what I have heard from others. I actually think that Prem and Mike are still chums, and now we have a 'double head-fake' going on; a real dangling carrot.
Because people aren't putting them together, they can be viewed as differing suitors, however, I believe that each knows the other's price position, and that boys club talks have been happening for some time.

Someone may ask to what advantage would they see with the stock price elevating towards 9 now with all the new news?
My take is that they both want the stock just above 9, because they too (just like us) are looking for a clean exit, and the best way is to do this is to steady the stock at a realistic floor for other bidders. They both know darn well that 9 is not realistic.
If the others don't bite, then Prem still gets it at or near 9. Win-win for 'them'; I think Mike is part of 'them'. He may well be the wild card with some side-deal.

We have a real poker game going on here folks. I like what Morgan said some some ago about "Watch and learn how the big money players' work". (Paraphrased).
I think that is exactly what is taking place.

[Bacon Munchers]

... I wonder when we will hear Mike's position on whether or not he is for or against going private.

[BBNation]

I can't speak for anyone else, but I am cheering for the person, or persons who end up putting the most money back in my tunic at the end of this deal, AND allows me to continue using my Z10.

My take on the latest is a little colored from what I have heard from others. I actually think that Prem and Mike are still chums, and now we have a 'double head-fake' going on; a real dangling carrot.
Because people aren't putting them together, they can be viewed as differing suitors, however, I believe that each knows the other's price position, and that boys club talks have been happening for some time.

Someone may ask to what advantage would they see with the stock price elevating towards 9 now with all the new news?
My take is that they both want the stock just above 9, because they too (just like us) are looking for a clean exit, and the best way is to do this is to steady the stock at a realistic floor for other bidders. They both know darn well that 9 is not realistic.
If the others don't bite, then Prem still gets it at or near 9. Win-win for 'them'; I think Mike is part of 'them'. He may well be the wild card with some side-deal.

We have a real poker game going on here folks. I like what Morgan said some some ago about "Watch and learn how the big money players' work". (Paraphrased).
I think that is exactly what is taking place.

How does it explain that Mike also with his childhood friend and rim co-founder together and Mike will act behalf of him. End of the day both mike, prem and third guy wants good healthy exist OR they still believe that they can restore this company to profitable level and they will be able to make more money later than they can make in short term by bidding war around $10 bucks.

[g120]

Ok. Little confused about something.

Suppose Prem finalises his offer at $9 and BOD accepts and recommends $9 to shareholders. Is BBRY still on the hook to pay the $.30/$.50 per share if shareholders vote to reject the offer?

[silversun10]

in the Globe and Mail Boyd Erman(Lazaridis, Fairfax and Blackberry: quick thoughts on an unlikely team) explains how Fairfax and Lazaridis are not on the same page, as Lazaridis wants to keep the keyboard and physical phone. while FF is more interested in BBM and the enterprise server business. and then they speculate what if the handsets go to Lazaridis and the other stuff to FF in some kind of a deal?

[Superfly_FR]

Tought of the day : instead of searching news about who's bidding that are very unlikely to pop before they are official, why don't we have a look at the list of potential bidders (in part or full) and tick out those who declared they are NOT interested ? After all, the only ones that can afford to talk about it right now are those who don't even consider the idea, isn't it ?

So, I suggest the following list, let's try to find any official statement and update it accordingly (I bolded those I believe we'll hear about) :

Microsoft (as enterprise SW editor)
Siemens/(MSFT)NOK (for their network)
Microsoft/MSN (as content provider)
Apple (yes I dare)
IBM (as for mobile market : Tivoli end points)
Samsung (as device manufacturer)
Sony (as device manufacturer)
Lenovo (as for mobile market)
SAP (as SW editor)
Oracle (as SW editor)
Cisco (as HW provider)
Mobile Iron, Symantec (or any of the (sized enough) MDM editors from the list here)
Fell free to add and tick gang !

Have a nice day !

P.S: add Alcatel Lucent (Highly speculative:restructuring in full for 3G/4G world after a big miss)

[Superfly_FR]

I love how the mood is going ...

[...] I had personally felt that the probability of a deal was closer to 67%, meaning BBRY shares would be fairly valued at $7.47.As such, I had felt BBRY was not a good risk/reward M&A bet. That view changed Thursday when it was learned that BBRY co-founders Mike Lazaridis and Douglas Fregin have acquired an 8% stake and hired Goldman Sachs to explore a bid. The co-founders left BlackBerry prior to the launch of its most recent phone and had been pushing for different strategies, including licensing its security software to other phone manufacturers. These two men see BlackBerry as their legacy and have a plan they believe can turn the company around. Historically, founders of struggling firms are more motivated buyers than other bidders.
I believe it is highly unlikely Lazaridis and Fregin would have their 8% stake and enlist Goldman unless they were serious about making an offer. As of right now, they have not engaged in conversations with Fairfax to make a joint bid, and there is a possibility they decide to bid in excess of the $9 Fairfax offer. If Fairfax truly is struggling to find financing, the co-founders would likely struggle as well. However, should they pool their resources, they would own 18% of the shares, and with this larger equity cushion, financing would much more easily be attained. Fairfax, as an insurer, is unlikely to be interested in making operating decisions and could leave those to the co-founders, acting as a financial sponsor instead.[...]

BlackBerry Ltd (BBRY): BlackBerry Has A Good Risk/Reward Profile - Seeking Alpha

[Superfly_FR]

Last one for this morning, back to $work.

EVERYONE can make mistakes ...
Apple iPhone 5c Production Allegedly Being Cut in Half | TechnoBuffalo

[sentimentGX4]

I know but a 12% premium in a short time span from a solid buyer? If Warren Buffet had offered $9/share the SP would be trading right near $9, probably higher after today's news. I just can't believe the distrust people seem to have for the PW offer, very disrespectful. Is ML going to offer less than $9, can't see that either.

It's not "disrespectful". It's business plain and simple. Many individuals on Crackberry take investing too personally.

In terms of the business world (and real life), "respect" only goes so far as individuals not badmouthing you. "Respect" is small gestures like saying "hello" when you see someone. "Respect" does not mean that you should have blind faith in a person or treat that person as infallible.

You're asking for hardworking individuals to trust their retirement funds or college funds or life savings on a person that they've never met IRL just so they won't hurt his feelings. Do you realize how crazy that sounds?

[Komoto]

The way I am looking at this thing is, imagine a bank vault with a plastic door so you can see in.

Lots of money.

Now to open this door there are two things you have to do: 1) put money into a slot up to a certain amount and 2) have access to the key which opens the door.

Only with these two can you gain access to the vault.

Prem has the key. By putting his bid in he is basically saying to the people with enough money for the slot. Hey look at all this treasure. You put the money in the slot, I will use my key and we can share the loot.

With lazaridis in play now you need two separate keys to open the door plus the money slot. The guy wanting the treasure now has to split the loot.

However the deal goes down (whoever fits in the money slot) Prem and mike will have to end up coming to an agreement for the deal to go through. For that to happen the price has to be right.

Sorry for the basic analogy.

I guess another option for the guy with the money is to say to Prem and mike, how much do you want for your key?

He buys the keys and then gets all the loot.

Posted via CB10

[Komoto]

Forgot to say, for those talking about duties to maximizing shareholders wealth etc, I think we should get these ideas out of our heads.

This is big boys game with big money, rules do not apply.

I am more happy in the knowledge that even if mike and Prem are being selfish, ie trying to maximise their own wealth we should get some of the crumbs that fall from the table.

We are right now like the small kayak in a stormy ocean. Don't rely on the lifeguard to come and save you.

Posted via CB10

[BB Fightclub]

... I wonder when we will hear Mike's position on whether or not he is for or against going private.

What happens if Mike and Friends buy over 50% of the shares? They get control, the fan boys are happy, the longs have a shot at reducing their losses....just quit loaning out shares to shorters and they will go away along with their media puppets. If I take a huge loss on my stock (forced out at $9.00).....I won't be buying any more BB devices and making some bottom feeder rich.

[fin2007]

Forgot to say, for those talking about duties to maximizing shareholders wealth etc, I think we should get these ideas out of our heads.

This is big boys game with big money, rules do not apply.

I am more happy in the knowledge that even if mike and Prem are being selfish, ie trying to maximise their own wealth we should get some of the crumbs that fall from the table.

We are right now like the small kayak in a stormy ocean. Don't rely on the lifeguard to come and save you.

Posted via CB10

Why would PW and Mike L care about shareholders at all?

For PW, he tries to minimize his loss, for Mike L, he tries to save his face here.
Clearly it is even for harder for Mike L to get finance loan because PW is richer than him. and if Mike L bids alone, he need pay 150M to PW, 150M may means nothing to Google/Cisco, but is really a lot to Mike.

Basically if you think about it, Mike L even has less power to make bid and even worse on make higher offer.
That is why market is not motivated.

[Komoto]

They don't that's the point. But as they are shareholders themselves by proxy will get some of the crumbs.

Mike doesn't have buyout, that is the significance of this move.

For guys like mike I highly doubt financing is an issue.

Posted via CB10