This afternoon the Wall Street Journal just posted a story saying that Mike Lazaridis and Doug Fregin, co-founders of Research In Motion, may jointly bid for BlackBerry along with support from Cerberus Capital Management. The WSJ cites the usual anonymous “people familiar with the matter”.
As a reminder, Lazaridis and Fregin, together, own about 8% of BlackBerry stock, and are not currently viewed as partners with Fairfax. We also knew that Cerberus has been poking around the story, so their name is not new to the situation. What is new is the potential for a tie-up between Lazaridis/Fregin and Cerberus.
I am not a fan of journalists making factual errors, so I will point out that November 4th is not a “deadline” of any kind with respect to BlackBerry’s agreement with Fairfax financial. It’s a target date. It’s not a life changing mistake, but it is a mistake nonetheless.
If you’re interested in what might happen on Monday, see our discussion of the possibilities from yesterday. Additionally, it is now being reported that Qualcomm may join Cerberus in a bid for BlackBerry.