BlackBerry shares jump as potential bidders kick the tires (TheGlobeAndMail)
BlackBerry Ltd (NASDAQ:BBRY) shares climbed again today as investors got a taste of what’s in store for the next few months. The stock jumped more than 5 per cent yesterday amid reports that the smartphone maker, which hung out a “for sale” sign last month, has already held preliminary talks with potential suitors and plans a fast auction. BlackBerry has narrowed the list of possible bidders for all or part of the Canadian company, and hopes to wrap it all up as early as November, according to The Wall Street Journal. That fits the timeline of some analysts who expect this won’t be a protracted process.
Scratch Huawei Off the BlackBerry Bidder List (WSJ)
BlackBerry Ltd (NASDAQ:BBRY) has narrowed down its list of potential bidders and is ready to launch an auction. If Huawei is on there, scratch it off. Reuters reported Wednesday that Huawei has ruled out acquisitions as a path to growing its smartphone business. Senior Vice President Chen Lifang said the company hasn’t considered any acquisitions. “We want to rely on ourselves,” she said. Chinese companies often show up on lists of potential bidders. In July, Huawei’s had to talk down speculation that it might bid for Nokia Corporation (ADR) (NYSE:NOK). Lenovo declined to comment on a BlackBerry bid but said it would consider any opportunity that fit its strategy.
BlackBerry reportedly pushing for November sell off (PocketGamer)
BlackBerry Ltd (NASDAQ:BBRY) is looking to fast-track a proposed buyout of the company with a view to having any deals signed, sealed and delivered by November. That’s according to the Wall Street Journal, which claims “sources familiar with the matter” have revealed the Canadian giant has narrowed down potential new owners to a select band of North American financial firms and mobile manufacturers. Those still involved in the process will then bid for the firm either as a whole or possibly in part, with BlackBerry’s board reportedly looking for a quick sale.
BlackBerry has talked to potential bidders, plans fast sale: report (TheGlobeAndMail)
BlackBerry Ltd. has already held talks with potential bidders in what it hopes will be a quick auction, The Wall Street Journal reported Wednesday. Preliminary discussions have already been held with potential bidders for all or just parts of the smartphone company, it added. That fits with what some analysts have projected, and comes on the heels of Microsoft Corporation (NASDAQ:MSFT)’s blockbuster deal for Nokia Corporation (ADR) (NYSE:NOK)’s handset operations yesterday. BlackBerry Ltd (NASDAQ:BBRY) unveiled a strategic review last month, with a sale among its options.
BlackBerry Wants A Buyer In Time For Thanksgiving (BBRY) (Benzinga)
Turkey, stuffing and new game consoles are not the only things that are expected to be sold during the holiday shopping season. If BlackBerry (NASDAQ: BBRY) has its way, the Canadian smartphone maker will find a buyer — and wrap up its auction process — by November. According to The Wall Street Journal, many financial players in the U.S. and Canada are interested in a possible bid for BlackBerry, including Bain Capital and the Canada Pension Plan Investment Board. Chinese powerhouse Lenovo (OTC: LNVGY) is also on the list of potential buyers.