Mike Lazaridis and Douglas Fregin Considering Acquisition of BlackBerry


In a recent filing with the SEC, BlackBerry co-founders Mike Lazaridis and Douglas Fregin have expressed their interested in putting out a bid on the company they both created.

The 13D filing combines the shares owned by Lazaridis and Fregin, giving them joint ownership over 8% of the company. There was previously speculation that Lazaridis could be involved in the Fairfax takeover by contributing his 5% of shares, but another part of the filing suggests otherwise:

In light of the Issuer’s recent announcement that its board of directors has formed a Special Committee to explore strategic alternatives to enhance value and increase scale, the Reporting Persons are considering all available options with respect to their holdings of the Shares, including, without limitation, a potential acquisition of all the outstanding Shares of the Issuer that they do not currently own, either by themselves or with other interested investors (an “Acquisition”).

This section, describing the purpose for Lazaridis and Fregin joining together, says that they are interested in acquiring any shares they do not own – in other words, taking the company private. They have even hired Goldman Sachs and Centerview Partners as advisors, suggesting that their intent is quite serious. Other investors will likely have to be involved, explaining prior rumours of Lazaridis talking to private equity firms about acquiring the company.

What do you think – would you like to see the founders take back the company?

Source: SEC