BlackBerry co-founders show interest purchasing the struggling smartphone maker

By IVCPOST Staff Reporter

Oct 11, 2013 12:33 PM EDT

Canadian smartphone maker BlackBerry's co-founders had showed interest in purchasing the company. Mike Lazaridis and Douglas Fregin had evinced acquisition interests for the struggling company, reported The Economic Times. Referring a recent regulatory filing, the report said Lazaridis and Fregin had entered into preliminary plans to purchase the Ontario-based handset manufacturing firm.

Lazaridis is the current President, Co-Chief Executive Officer and Co-Chairman of the struggling smartphone manufacturing company. Meanwhile, Fredin had worked as the company's Vice President of Operations.

Lazaridis and Fregin had been reportedly in discussions with Goldman Sachs & Co, Gibson, Dunn & Crutcher, Goodmans LLP and Centerview Partners LLC along with other advisors regarding the review of transaction.

Lazaridis would manage and direct the advisors on behalf of the parties in connection with the bid. He would be consulting with Fregin with the management and direction of their planned bid. He would also be the representative of parties with regard to communication on the planned transaction.

According to a filing, "The parties agree that if the transaction is successfully completed, the board of directors of the company (or any successor entity) will include Lazaridis, as Chairman and a director appointed by Fregin."

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