Lenovo considers bid for BlackBerry - report

Nieuws Mobiel Wereld 18 OCT 2013
Lenovo considers bid for BlackBerry - report
Lenovo is actively considering a bid for all of BlackBerry, people familiar with the matter told the Wall Street Journal. Bids for BlackBerry are due by 04 November, according to the paper's sources. 

Last month, BlackBerry reached a preliminary USD 4.7 billion buyout deal with Fairfax Financial Holdings, one of its largest shareholders. Others that have been considering BlackBerry bids include Cerberus Capital Management, which has also signed a non-disclosure agreement to look at the company's books, and BlackBerry co-founders Mike Lazaridis and Doug Fregin, who recently disclosed their interest in a public filing. 

China-based Lenovo is already bigger than BlackBerry in the smartphone market, accounting for 4.7 percent of global sales in Q2 versus 2.7 percent for BlackBerry, according to Gartner. 

Categories:

Mobiel

Companies:

Lenovo,  BlackBerry

Regions:

Wereld

Tags:

Handsets, M&A buyouts & divestments

Related Articles

WERELD 20 OCT 2014

Lenovo ready to bid for Blackberry - report

Lenovo could make an offer to acquire BlackBerry as early as this week, a source familiar with the matter told news website Benzinga. The report said Lenovo's first offer would be USD 15 per share, and the company could pay as much as USD 18 per share. Lenovo's CFO Wong Wai Ming said in January 2013 that BlackBerry was one of many possible opportunities for the company. Later that year, the Canadian government reportedly blocked a potential BlackBerry deal with Lenovo, due to national security concerns. A B

WERELD 31 JAN 2014

Lenovo may over-estimate Motorola potential

The world's biggest PC maker, Lenovo, hopes to do the same soon with mobile devices. The Chinese company hopes to become the biggest smartphone supplier, but its ambition is a long way away based on its current market share and sales. The question is whether its planned takeover of Motorola will get it there any faster. 

WERELD 14 NOV 2013

BlackBerry completes convertible debt issue

BlackBerry announced that it has completed the previously-announced USD 1 billion private placement of convertible debt to Fairfax Financial and other institutional investors. According to regulatory filings, Canso Investment Counsel bought the most debt, at USD 300 million, followed by USD 250 million from Fairfax. Funds managed by Mackenzie Financial invested USD 200 million, USD 100 million came from Qatar's sovereign wealth fund, USD 70 million from Virginia-based Markel and USD 10 million from Brookfie

WERELD 7 NOV 2013

Lenovo ships record 29 mln devices in Q3

Lenovo reported revenues of USD 9.8 billion for its fiscal second quarter to September, a 13 percent increase year-over-year. Gross profit rose 11 percent to USD 1.27 billion, giving a margin of 12.9 percent. The net profit was up 36 percent to USD 220 million, and the company had USD 2.6 billion in cash at the end of the quarter. Lenovo said it sold a record 29 million devices in the quarter, thanks to its growing market share in PCs and expansion in smartphones. Shipments of smartphones and tablets surpas

WERELD 7 NOV 2013

Meer winst voor Lenovo dankzij smartphones

Lenovo heeft in het derde kwartaal van dit jaar een omzet gerealiseerd van 9,8 miljard dollar, een stijging van 17 procent op jaarbasis. De Chinese pc-maker boekte 36 procent meer winst, namelijk bijna 220 miljoen dollar. De forse winststijging is vooral het gevolg van kostenbesparingen en meer verkochte smartphones. Lenovo verkocht in Q3 12,3 miljoen smartphones, een stijging van 78 procent. Het gros van de smartphones werd verkocht in thuisland China. Lenovo is daar na Samsung de grootste leveranciers van

WERELD 4 NOV 2013

BlackBerry abandons sale, CEO steps down

BlackBerry has abandoned plans to sell the company and instead agreed a new investment and management team led by its largest shareholder, Fairfax Financial. The handset maker will issue USD 1 billion in convertible debt to institutional investors, including USD 250 million to be acquired by Fairfax. The seven-year debt at 6 percent annual interest can be converted at USD 10 per share, a 28.7 percent premium to the current share price, and represent a 16 percent stake in the company. As part of the new plan

WERELD 4 NOV 2013

Qualcomm considers joint bid for BlackBerry - report

Qualcomm is in talks to join a possible bid for BlackBerry, people familiar with the matter told the Wall Street Journal. Qualcomm is contemplating joining private-equity firm Cerberus Capital Management, which is also in talks to join Mike Lazaridis and Doug Fregin, the BlackBerry co-founders who have said they are considering a bid. The deadline for bids is 04 November, after which an auction is expected to follow. Other potential bidders include Lenovo and Fairfax Financial, Blackberry's largest sharehol

WERELD 30 OCT 2013

BlackBerry approaches Facebook on acquisition - report

BlackBerry executives flew to California to meet with Facebook last week to gauge its interest in a potential bid for the smartphone-maker, people familiar with the matter told the Wall Street Journal. It was unclear what Facebook's response was. Spokesmen for both companies declined to comment. In addition to helping Facebook develop its own phone, the acquisition would give it access to a portfolio of wireless patents, some 70 million BlackBerry subscribers and about USD 2.6 billion in cash.

CANADA 21 OCT 2013

Canada streng op veiligheid inzake overname BlackBerry

De Canadese overheid bekijkt in hoeverre een overname van BlackBerry door een buitenlandse partij conflicteert met de nationale veiligheid. Dat heeft minister-president gezegd na afloop van een ontmoeting met voorzitter van de Europese Commissie (EC) José Barroso in Brussel. Harper is naar eigen zeggen extra streng omdat BlackBerry een belangrijke speler is op markt voor communicatie- en informatietechnologie. BlackBerry verkeert al tijden in moeilijk vaarwater nadat het niet in staat bleek te concurreren m

WERELD 11 OCT 2013

BlackBerry co-founders consider takeover bid

BlackBerry co-founders Mike Lazaridis and Doug Fregin are considering a joint bid to acquire the smartphone maker. They disclosed an 8 percent stake in the company in a SEC filing and said they have hired bank advisers to consider a full takeover of the group. BlackBerry agreed last month to a takeover by its largest shareholder Fairfax Financial for USD 4.7 billion. Fairfax holds around 10 percent in the company. However, the Fairfax bid still depends on due diligence and a final agreement. Goldman Sachs a

WERELD 3 OCT 2013

BlackBerry attracts more interested suitors - report

Investor Cerberus Capital Management could be interested in BlackBerry, the Wall Street Journal reported, citing people familiar with the matter. Cerberus hopes to sign a confidentiality agreement that would give it access to BlackBerry's private financial information, one of the people said. The investor may well opt against pursuing a bid, the person added. At least one other investment company may also interested. BlackBerry, in a recent filing with the Securities and Exchange Commission, said it expects

WERELD 27 SEP 2013

BlackBerry disappointed by Q2 results as revenue falls 49%

BlackBerry has reported revenue of USD 1.6 billion for the second quarter ending 31 August, down 49 percent from USD 3.1 billion in Q1 and down 45 percent from USD 2.9 billion in the year-earlier quarter. The revenue breakdown for the quarter was around 49 percent for hardware, 46 percent for service and 5 percent for software and other revenue. In the second quarter, BlackBerry recognised hardware revenue on around 3.7 million smartphones. Most of the units recognised are BlackBerry 7 devices, part because

CANADA 23 SEP 2013

FairFax-led group signs LoI to acquire BlackBerry

BlackBerry has signed a letter of intent to sell the company to a consortium led by Canadian insurance firm FairFax Financial. Under the terms of the agreement, BlackBerry shareholders will receive USD 9 in cash for each share of BlackBerry they hold, valuing the deal at USD 4.7 billion. FairFax already owns around 10 percent of BlackBerry's common shares and will contribute them into the transaction. During the due diligence and regulatory approval period, lasting until 04 November, BlackBerry will be able

WERELD 5 SEP 2013

BlackBerry plans quick auction to sell assets - report

BlackBerry plans to run a quick auction to sell off its assets, which could be wrapped up by November, people familiar with the matter told the Wall Street Journal. The smartphone maker announced in August that it had formed a special committee of board members to "explore strategic alternatives." Since then, the company has held preliminary talks with parties interested in buying part or all of the company, the paper said. It has narrowed its list of potential bidders to seek out in a sales process expecte

Just In

19 DEC 16:42

SLT-Mobitel launches 5G network in Sri Lanka

19 DEC 16:19

Dialog Axiata launches 5G network, connects 1.5 million subscribers

19 DEC 15:56

UK govt to ban AI-enabled nudification apps to protect women, girls

19 DEC 15:42

3 UK launches last-minute Christmas sale

Commentary

13:56

Video market set for slower growth ahead

11:38

Netflix buys Warner Bros to deepen content catalogue

11:11

KPN's mixed performance in Q3 raises questions for strategy day

15:26

Stock markets breaking records but what happened to Odido's IPO plans?

Background

01:04

The week in telecom: Wi-Fi bolt-ons take off to boost broadband growth, video market works on consolidation

01:39

The week in telecom: Netflix wins bidding for Warner Bros, Apple poaches new execs, Samsung debuts trifold

13:51

Proximus vs. Telenet: Proximus performs better in Q3 while Telenet uses up cash

14:16

Proximus Domestic still struggling with low margins

Complete profile

Before downloading the whitepaper, we would like to ask you to complete your profile with company and position. After confirming you will receive the white paper.