Cerberus investment fund eyes BlackBerry bid: Source
NEW YORK (AFP) - The private equity firm Cerberus Capital Management is interested in a bid for troubled Canadian smartphone maker BlackBerry, a source familiar with the matter said on Wednesday.
The source indicated that the big investment group was preparing to sign a confidentiality agreement to examine BlackBerry's finances for a possible counter-offer to a US$4.7 billion (S$5.9 billion) buyout plan agreed last month.
BlackBerry said on Sept 23 it signed a letter of intent for the buyout, which translates to $9 a share, led by Fairfax Financial Holdings Limited. The deal is subject to due diligence by Fairfax and allows BlackBerry to consider other offers.
Fairfax, a Canadian firm headed by billionaire Prem Watsa, is already BlackBerry's largest shareholder with approximately 10 per cent of its shares.