BlackBerry co-founders would compete with Fairfax for financing if they opt to bid
BlackBerry Co-Founders Mike Lazaridis and Doug Fregin, who could table an offer for the struggling smartphone maker, would be competing for financing with Fairfax Financial Holdings, according to a newswire report.
Bloomberg News on Friday cited Catharine Sterritt, a risk arbitrage strategist at Bank of Nova Scotia, as saying that it would be illogical for two groups to look for the same sort of financing. Meanwhile, David Cockfield, a fund manager working with Northland Wealth Management, said in the article that it could prove challenging for Lazaridis to get the financial commitments he will need to move forward with a bid for BlackBerry. An unidentified source familiar with the situation said in the article that Fairfax isn't working with the BlackBerry co-founders.
Separately, Michael Sabia, CEO of Montreal, Quebec-based Caisse de Depot et Placement du Quebec, said in another Bloomberg article on Friday that the pension fund probably won't opt to invest in BlackBerry since it leans towards investing in more predictable entities such as Colgate-Palmolive and Coca-Cola.
Meanwhile, the first Bloomberg article cited Lazaridis as saying on Thursday that he has retained Goldman Sachs Group and Centerview Partners to assist him in considering an offer for BlackBerry.
Source Newswire Round-up