10-03-13 01:16 AM
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  1. koolrosh's Avatar
    Shares of BlackBerry (BBRY) have jumped out of negative territory this afternoon, rising 4 cents, or half a point, at $7.96, following a headline from Dow Jones Newswires stating the effort to take the company private at $9 per share, led by Fairfax Financial Holding, has drawn interest from Cerberus Capital Management LP and at least one other investor.

    The buy-out offer has drawn intense skepticism from the Street since it was announced a week ago Monday, with many expressing the view Fairfax would have a hard time coming up with the $4.7 billion deal financing.

    BBRY Spikes: Cerberus, Other Investors Interested in Buyout, Says DJ - Tech Trader Daily - Barrons.com
    10-02-13 12:02 PM
  2. howarmat's Avatar
    10-02-13 12:27 PM
  3. Siya10's Avatar
    They act like Bain Capital, so let's hope not!!

    Posted via CB10
    10-02-13 12:31 PM
  4. rim_investor's Avatar
    Not sure if it's a competing bid to Fairfax or Cerebrum is part of it?

    Posted via my AWESOME Z10 on CB10
    10-02-13 12:33 PM
  5. Siya10's Avatar
    Cerberus

    Posted via CB10
    10-02-13 12:34 PM
  6. rim_investor's Avatar
    Sorry...Cerberus...darn autocorrect on Z10

    Posted via my AWESOME Z10 on CB10
    10-02-13 12:34 PM
  7. Siya10's Avatar
    Guys, don't trust Cerberus... they're evil

    Posted via CB10
    10-02-13 12:35 PM
  8. Crackberrykills's Avatar
    Yeah, a company named after a three headed hell hound should never be trusted.
    10-02-13 12:37 PM
  9. Bluenoser63's Avatar
    Shares of BlackBerry (BBRY) have jumped out of negative territory this afternoon, rising 4 cents, or half a point, at $7.96, following a headline from Dow Jones Newswires stating the effort to take the company private at $9 per share, led by Fairfax Financial Holding, has drawn interest from Cerberus Capital Management LP and at least one other investor.

    The buy-out offer has drawn intense skepticism from the Street since it was announced a week ago Monday, with many expressing the view Fairfax would have a hard time coming up with the $4.7 billion deal financing.

    BBRY Spikes: Cerberus, Other Investors Interested in Buyout, Says DJ - Tech Trader Daily - Barrons.com
    If Cerberus buys it, then it will be chopped up for parts and left for dead.
    10-02-13 12:40 PM
  10. JasW's Avatar
    It would be Cerberus's own offer. The Barron's blog is but a blurb on this, here's the original WSJ report:

    BlackBerry Draws Interest of Cerberus
    By SHARON TERLEP and DANA CIMILLUCA

    Private-equity firm Cerberus Capital Management LP has expressed interest in BlackBerry Ltd., according to people familiar with the matter, as the smartphone maker seeks a buyer to rescue the company.

    Cerberus is aiming to sign a confidentiality agreement that would allow it to access BlackBerry's private financial information, one of the people said. Cerberus, which specializes in distressed investing, may well opt against pursuing a bid, the person said.

    BlackBerry in August announced a review of strategic alternatives, including a possible sale, following a dramatic erosion in the market share of its signature devices. That led last month to a preliminary deal to sell the company to Fairfax Financial Holdings Ltd. for $4.7 billion, or $9 a share.

    Concerned the deal won't stick at that price, and reacting to another bleak financial report from the company, investors have driven down BlackBerry shares. They traded at $7.60 midday Wednesday, down about 4% on the day and some 15% below the Fairfax offer, but reversed course following the Journal's article about Cerberus's interest.

    A BlackBerry spokesman declined to comment. "We do not intend to disclose further developments with the respect to the process until we approve a specific transaction or otherwise conclude the review of strategic alternatives," the spokesman said.

    BlackBerry in a filing with the Securities and Exchange Commission late Tuesday acknowledged in more depth the challenges it is facing. The company said it expects to incur charges of $400 million through the rest of the fiscal year as part of a broad cost-cutting initiative that includes the previously announced reduction of 40% of its workforce.

    Cerberus wasn't among the private-equity firms BlackBerry courted in recent months as it sought a buyer, according to people familiar with the matter. It is unclear who else besides Fairfax—if anyone—might come through with a bid for all or part of the company.

    BlackBerry co-founder Mike Lazaridis, who is no longer with the company but according to recent disclosures held a 5.7% stake, is also contemplating a bid, a person familiar with the matter said. Mr. Lazaridis has previously held talks to join the Fairfax group and still may do so, this person said. Neither BlackBerry, Mr. Lazaridis nor Fairfax was immediately available for comment Wednesday.

    The Fairfax bid is subject to a number of conditions, including the completion of an examination of BlackBerry's books. It also carries a roughly $150 million breakup fee, which BlackBerry could be liable for if it spurns Fairfax and sells itself to another party. BlackBerry agreed to the unusual set of terms in the hope that the move would put a floor under its sagging stock and help lure rival offers, people familiar with the matter have said.

    Fairfax, which already owns a 10% BlackBerry stake and whose chief executive, Prem Watsa, is a former director of the company, had not lined up financing when its preliminary agreement was announced. That, and the precarious state of BlackBerry's business, has created anxiety among investors that Fairfax won't ultimately pay $9 per share for the company.

    Still, the continued decline in BlackBerry's shares could help encourage bids from others, who may be drawn in part to the prospect of buying the company for a bargain-basement price. Should Fairfax lower its offer, another bidder could potentially swoop in without having to contend with the breakup fee.

    Cerberus, known in part for its earlier acquisition of Chrysler Group LLC, kept a low profile for years, but lately has been in the mix on some headline-grabbing situations. It was in talks to join Best Buy Co. founder Richard Schulze in a buyout of the struggling retailer that never happened. Earlier this year, Cerberus agreed to buy grocery chain Supervalu Inc.

    At least one other distressed-investing firm has also been sniffing around BlackBerry, according to another person familiar with the matter. It isn't clear who that is or if they're still interested.

    According to the terms of its preliminary deal, Fairfax has until this week to deliver an initial draft of a merger agreement with BlackBerry. If it misses that deadline, its due diligence period, scheduled to last until Nov. 4, would be truncated.

    source: BlackBerry Draws Interest of Cerberus - WSJ.com
    10-02-13 12:41 PM
  11. IgotsThis's Avatar
    Guys, don't trust Cerberus... they're evil

    Posted via CB10
    Mass effect?

    BBM channels: c00121c99 for some knowledge and c00123fca for some real hip hop
    Xandrex_BSCF and FSeverino like this.
    10-02-13 12:44 PM
  12. Scott Lindsey's Avatar
    It goes without saying that Cerebrus would have no interest in nurturing an ailing handset division. This would be the end of Blackberry as we think of it now.
    millwright40, Etios and Mack Gans like this.
    10-02-13 12:46 PM
  13. Siya10's Avatar
    Mass effect?

    BBM channels: c00121c99 for some knowledge and c00123fca for some real hip hop
    What?



    Posted via CB10
    10-02-13 12:51 PM
  14. Crackberrykills's Avatar
    What?



    Posted via CB10
    Not big into video games, eh?
    10-02-13 12:53 PM
  15. Siya10's Avatar
    Cerberus will probably just want see the books because to be sure if going short is a good idea or make some more shorts....^^
    x)

    Posted via CB10
    10-02-13 12:53 PM
  16. Siya10's Avatar
    Not big into video games, eh?
    No, don't have any consoles or any PC games... just don't my thing..

    Posted via CB10
    stevepar likes this.
    10-02-13 12:55 PM
  17. doggy10's Avatar
    Omg not cerberus. I can't stand them. They took over the company I work for and they knew nothing about running it and they lost about $19 million when they sold it...lol. I do not want them touching BlackBerry.

    BlackBerry for life. Kick'n it with my Z10.
    Mack Gans and millwright40 like this.
    10-02-13 01:05 PM
  18. TioPepe78's Avatar
    Looking at the profile of Cerberus seems like they would chop the company into pieces, hope it doesn't happen.
    milo53, millwright40 and Etios like this.
    10-02-13 01:07 PM
  19. Alphax45's Avatar
    Bet the Canadian government says no the this chop shop
    10-02-13 01:07 PM
  20. howarmat's Avatar
    well that isnt good if that is true. If they were helping back FF offer that would be good
    10-02-13 01:10 PM
  21. Siya10's Avatar
    Lets hope so!

    .__.

    Posted via CB10
    10-02-13 01:13 PM
  22. lnichols's Avatar
    Guys, don't trust Cerberus... they're evil

    Posted via CB10
    Shareholders should get maximum benefit out of a deal to take the company private. If Fairfax is serious then it will have to pay more. If someone else buys the company for more and guts it, then more power to the shareholders IMHO. I want to see BlackBerry succeed, but this Fairfax deal is about a scummy as it can get under the circumstances.
    R_from_Toronto and Rooster99 like this.
    10-02-13 01:16 PM
  23. IgotsThis's Avatar
    Not big into video games, eh?
    You know of mass effect????:O

    BBM channels: c00121c99 for some knowledge and c00123fca for some real hip hop
    Jahcure likes this.
    10-02-13 01:16 PM
  24. co4nd's Avatar
    Shareholders should get maximum benefit out of a deal to take the company private. If Fairfax is serious then it will have to pay more. If someone else buys the company for more and guts it, then more power to the shareholders IMHO. I want to see BlackBerry succeed, but this Fairfax deal is about a scummy as it can get under the circumstances.
    Chances are Fairfax will be the best offer, especially if it fizzles out.
    millwright40 likes this.
    10-02-13 01:22 PM
  25. eldricho's Avatar
    You know of mass effect????:O

    BBM channels: c00121c99 for some knowledge and c00123fca for some real hip hop
    And so do I

    Cerberus sounds like a butcher to me, from what I'm hearing

    Posted via CB10
    millwright40 likes this.
    10-02-13 01:27 PM
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