BlackBerry nears dissolution for lack of confidence - EXAME.com

Valentin Flauraud / Reuters

BlackBerry smartphones: the BlackBerry is requesting more proposals after accepting an offer bid of $ 4.7 billion of Fairfax, its main shareholder

Toronto and New York – The BlackBerry Ltd. is closer to dissolve amid concern that Fairfax Financial Holdings Ltd. can not raise the funding or gather members for a purchase for $ 4.7 billion, said an industry source.

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Companies such as SAP AG, Cisco Systems Inc. and Samsung Electronics Co., sought by consultants BlackBerry last week expressed interest only in parts of the company, according to industry sources. A dissolution would allow parties realizassem offers the most valuable parts of the BlackBerry as their patents or your corporate network, said the sources, who requested anonymity for the private nature of the discussions.

“If the company was dissolved, would generate more value than it has today,” said Sachin Shah, a strategist in special situations and merger arbitrage at Albert Fried Co, based in New York. Regardless of the success of the offering of Fairfax, “dissolve the company seems more appetizing for everyone involved,” he added.

BlackBerry are requesting more proposals after accepting an offer bid of $ 4.7 billion of Fairfax, its main shareholder, last month. Under this agreement, the BlackBerry has until November 4th to consider other proposals while Fairfax and a group of investors perform the necessary procedures and align funding.

investors increasingly concerned about a possible breach of the agreement. The shares of the company operating 10 percent below the offer from Fairfax, $ 9 per share.

So far, the only public offer by BlackBerry is in Fairfax. The president of the investment company, Prem Watsa, resigned from the council in August BlackBerry to arm your offer. Watsa did not disclose the names of other members of its consortium acquisition. Although the group is seeking funding from companies such as Bank of America Corp. and BMO Capital Markets, no agreement was announced about.