BlackBerry Ltd (NASDAQ:BBRY) May Consider Deals From Pension Funds, Firms, Among Others
Denver, CO, 08/15/2013 (Avauncer.com) – Shares of BlackBerry Ltd (NASDAQ:BBRY) were up 0.27% to close at $10.96. As a result, shares remained midway of its 52-week price range of $6.22 to $18.32. Therefore, shares remained actively traded with 36.38 million shares being traded, up from the average volume of 25.56 million shares.
The company has been in talks recently after the news of sale of the company hit the market. The firm has already been open in its approach to make a buyout happen. For this, the company has received responses from technology companies, other buyout firms and pension funds. The company’s largest shareholder, Prem Watsa is said to be the key element in carrying out the deal. The Indian origin investor, who is famously called the Warren Buffet of Canada, had resigned from the Board of the company to prevent any conflict of interest in carrying out the buyout. However, despite this, there are sentiments that any investor would need the ascent of Prem to be on cards of the company as a prospective dealer. His is also because of the fact that the coveted investor holds 10% stake in the company, which will have s substantial weight when the company is put to vote. Also, if Watsa approves such buyer, it will add to the credentials of the dealer which shall help it getting the deal put across. It is however believed that the Watsa had been forming a consortium of investors, considering a takeover of the company.
The company has also been long eyeing on bringing to board other investors who are in the same sector, such as Apple Inc., Samsung Electronics Co., who may make a buyout just to take the ailing company’s assets such as patents or its network or instant messaging platform. This will help to tap those mobile users who have been loyal to BlackBerry’s OS and had been addicted long to its services. However, it is also speculated that company’s might not be willing to do so, at the stake of its own OS and devices behind which they have been investing a lot, to make a brand image out of it.