1. fatkiid's Avatar
    "BlackBerry Ltd. will probably be broken up amid a “bizarre” bidding process that makes it hard to value the smartphone maker, according to a Canadian pension fund that’s considering an offer.

    “It’s the most bizarre sales process I’ve seen in a long time,” Alberta Investment Management Corp. Chief Executive Officer Leo de Bever said in a phone interview yesterday. “We’re looking at it but nobody’s come to us with a proposal that makes any sense.”

    BlackBerry headed for breakup in ‘most bizarre sales process I’ve seen in a long time,’ says AIMCo CEO | Financial Post
    10-08-13 12:08 PM
  2. qbnkelt's Avatar
    What company getting ready to become involved in a bidding process makes it a point to state to the media that they are ready to get into that sales process and begins discussing carving knives unless they are ready to derail it???
    10-08-13 12:18 PM
  3. cgk's Avatar
    What company getting ready to become involved in a bidding process makes it a point to state to the media that they are ready to get into that sales process and begins discussing carving knives unless they are ready to derail it???
    As you say the "why" is interesting...

    He seems to be saying that the bid processes has moved onto discussing the break-up of the business units and bidding for individual units but none of the proposed business units have any particular partners in mind or lined up or even any real business plans - at least that is how I read it.

    Reading further between the lines (and i could be misreading this), he seems to be suggesting by inference that PW is either horse**** or doesn't have backing.
    kevinnugent likes this.
    10-08-13 01:10 PM
  4. Shanerredflag's Avatar
    Moose ****...it is Canada.

    Posted via CB10
    cgk, OMGitworks and newcollector like this.
    10-08-13 01:16 PM
  5. zee3p0's Avatar
    I read this as. Aimco is not involved in the fairfax draft plan that had more parties interested . It's more likely to be sold to another set of bidders that would take different parts. At a premium to fairfax low offer.

    Posted via CB10
    10-08-13 01:28 PM
  6. OzarkaTexile's Avatar
    It's becoming increasingly apparent that no one wants to buy this company.
    techvisor likes this.
    10-08-13 02:31 PM
  7. Shanerredflag's Avatar
    It's becoming increasingly apparent that no one wants to buy this company.
    Why is that? It's early yet.

    Posted via CB10
    10-08-13 02:32 PM
  8. LP_Rigg's Avatar
    It's only bizarre if you are the investor who wants to purchase a piece and not the whole pie.
    10-08-13 02:40 PM
  9. szlevi's Avatar
    It's only bizarre if you are the investor who wants to purchase a piece and not the whole pie.
    Quite the opposite in my read: it's bizarre because nobody has a plan or put a bid for the whole, only for a piece of the pie.
    10-08-13 03:27 PM
  10. zee3p0's Avatar
    Nobody has approached this guy with a plan. If he was really involved in the deal with fairfax you can guarantee his mouth would be shut. Then he calls out google saying he would be interested in being involved in that. It sounds to me like he is on the sidelines. We are looking at a company with assets well above the 4.7 billion dollar offer here and he wants in. There will be another offer

    Posted via CB10
    the_sleuth and Superfly_FR like this.
    10-08-13 03:49 PM
  11. PeterC4's Avatar
    "BlackBerry Ltd. will probably be broken up amid a bizarre bidding process that makes it hard to value the smartphone maker, according to a Canadian pension fund thats considering an offer.

    Its the most bizarre sales process Ive seen in a long time, Alberta Investment Management Corp. Chief Executive Officer Leo de Bever said in a phone interview yesterday. Were looking at it but nobodys come to us with a proposal that makes any sense.

    BlackBerry headed for breakup in most bizarre sales process Ive seen in a long time, says AIMCo CEO | Financial Post
    He can't be involved in a lot of distressed sales. It is never that easy, but if he understood the business better he wouldn't be saying that. The BES segment may have a future with the potential suitors being Cisco and others. The consumer business of handhelds may pose more difficult problems. I don't think its a "bizarre" sales process, but it is a challenge. BBRY's business is facing difficulties that are hard to describe. On one hand, there are many knowledgeable users who actually like the Z10 and current new products, while others struggle to adapt to something new which seems to outweigh the former. The BB servers and encryption technology still seems to be favoured by those in the know and is considered a good product. It is easy to forget how unique BBRY was when it came out with the device that could remotely get e-mail pushed to it - that was so cool when it first landed.
    10-08-13 05:12 PM
  12. OzarkaTexile's Avatar
    Why is that? It's early yet.

    Posted via CB10
    It's not at all early. Give it another six months and there will be little left to buy. Employees and customers are fleeing. Any company who believed BBRY could be saved would have bought them already. Any company who wants to scavenge the remains is waiting for the price to fall.
    techvisor and JeepBB like this.
    10-09-13 01:22 PM
  13. Superfly_FR's Avatar
    It's becoming increasingly apparent that no one wants to buy this company.
    It's not at all early. Give it another six months and there will be little left to buy. Employees and customers are fleeing. Any company who believed BBRY could be saved would have bought them already. Any company who wants to scavenge the remains is waiting for the price to fall.
    There's a lot of speculation here.
    As much as I can tell, Prem has the fundings ready. If his bid @ $9/share is accepted, he'll be dancing on the table.
    It's not because some - days after days - are repeating "no one wants BBRY" that it is the truth.

    Day news: +1 to the potential list of funders : Canada Pension Considers Joining Bid for BlackBerry - Bloomberg
    10-09-13 05:19 PM
  14. sentimentGX4's Avatar
    Why is that? It's early yet.

    Posted via CB10
    It really isn't early at all. BBRY has been trying to sell itself for a long time. It merely hadn't announced it out in the public and made super, ultra obvious; which, is what many fans require it to be in order to digest any bad news.

    But it should be noted that its is highly unusual for there even to be a "strategic alternative" announcement. (And even after that announcements many fans were still in denial for over a month.) Most companies that sell themselves do so quietly and seemingly by surprise.

    How long has BBRY been trying to sell itself? We will never know for certain. But its likely been over a year. As the OP rightfully notes, BBRY's sales process is bordering "bizarre" and it has only exercised this option after failing to use conventional means to sell the company.
    JeepBB and aniym like this.
    10-09-13 11:13 PM
  15. aniym's Avatar
    Why is that? It's early yet.

    Posted via CB10
    The first "strategic alternative" announcement happened after the June 2012 earnings report. JP Morgan has been looking for a buyer for a year and has found no takers.
    10-14-13 10:16 AM

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