Qualcomm, Cerberus And Lazaridis Consider Joint Bid For BlackBerry

Qualcomm is reportedly considering a joint-bid for BlackBerry with Cerberus Capital Management and BlackBerry co-founders Mike Lazaridis and Doug Fregin.

According to the Wall Street Journal, the three parties have discussed the possibility of teaming up to acquire the struggling smartphone manufacturer, amid concerns that Fairfax Holdings, which has a preliminary agreement to purchase the company, has been unable to secure financing for its takeover bid.

Qualcomm BlackBerry bid

It has been suggested that chip-maker Qualcomm could want to keep one of its customers afloat and have an interest in BlackBerry’s patent portfolio, which have long been considered one of its more attractive assets.

Cerberus’ interest has been previously reported and would not be the first time the hedge fund has looked towards Canada; it invested in struggling Air Canada in 2004 ahead of a 2006 IPO, and sold its shares in 2009. Lazaridis has also been linked with a bid, and he and Fregin’s shares amount to an eight percent stake in the firm, which could be useful in any takeover bid.

Fairfax has until today to review BlackBerry’s books and any interested party must register their interest by that deadline. If Blackberry were to renege on its agreement with Fairfax, it would be liable for a breakup fee, although it could be off the hook if its largest shareholder is unable to raise the required funds.

Chinese PC manufacturer Lenovo has been strongly linked with a move, while Google, Intel and SAP have also been touted as potential suitors. Last week it was reported that Facebook had held discussions with BlackBerry regarding a bid, reigniting rumours that the social network is looking to build its own smartphone.

BlackBerry has had a bumpy year! Try our 2013 BlackBerry quiz!