LENOVO LOOKING AT BLACKBERRY

Oct 17, 2013

By Michael Kramer

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Chinese computer maker Lenovo is looking at the possibility of buying Blackberry.

The Wall Street Journal reported that unnamed sources have told it that Lenovo is considering a bid for the struggling smartphone maker, and has signed a non-disclosure agreement so it can go over BlackBerry’s finances.

This potential bid comes after Fairfax Financial –  BlackBerry’s largest shareholder, made a conditional takeover bid worth US$9 per share, valuing the company at US$4.7 billion.

BlackBerry co-founders Mike Lazaridis and Douglas Fregin are also looking at making a potential takeover bid. Together, Lazaridis and Fregin own roughly an eight per cent stake in BlackBerry, while Fairfax holds about 10 per cent

Blackberry shares  closed at $8.23 . That’s up  .37 percent.

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