BlackBerry asked for preliminary expressions of interest from potential strategic buyers. This buyers can buy the whole company or parts of it, which would be alternative to the preliminary agreement reached weeks ago with a group, led by Fairfax Financial Holdings (BlackBerry’s biggest shareholder), to take the company private for ca. $4,7 billion. Potential strategic buyers are Cisco, Google, Intel, LG, SAP and Samsung. The potential buyers have been especially interested in BlackBerry’s secure server network and patent portfolio. Analysts are saying that BlackBerry’s assets include well-regarded services business that powers its security-focues messaging system worth $3 bn – $4,5 bn; a collection of patents worth $2 bn – $3 bn and $3,1 bn in cash and investments. BlackBerry has a special committee with the assistance of independent financial and legal advisors, which is conducting review of strategic alternatives. Financial advice is providing JPMorgan Chase and RBC Capital Markets. Legal advice is providing Skadden, Arps, Slate, Meagher & Flom LLP and Torys LLP. Continue reading »
tags: Arps, BlackBerry, CISCO, Fairfax Financial Holdings, Google, Intel, JPMorgan Chase, LG, Meagher & Flom LLP, patent portfolio, RBC Capital Markets, Samsung, SAP, secure server network, Skadden, Slate, Torys LLP