Cerberus is interested in BlackBerry: Reports
BlackBerry has drawn the interest of Cerberus, a private equity firm, and at least another investor, according to reports Wednesday.
Cerberus plans to sign a confidentiality agreement with Blackberry, while the smartphone maker considers other bids in its effort to go private, Dow Jones and The Wall Street Journal reported..
A BlackBerry spokesman declined to comment, the Journal said.
Increasing losses and a sharp revenue decline pushed BlackBerry to accept a tentative $4.7 billion offer on Sept. 28 from a consortium led by Fairfax Financial Holdings. The smartphone maker has entered a six-week shop period when it can solicit other offers and enter into negotiations.
BlackBerry reported a quarterly loss of nearly $1 billion last week, few days after accepting the Fairfax offer.
To read the full story in The Wall Street Journal, click here.