Fairfax Financial struggling to raise money for BlackBerry bid
Fairfax Financial is struggling to raise financing for its BlackBerry bid after several large lenders turned down its requests, financing Reuters reported Friday.
In September, BlackBerry accepted a tentative $4.7 billion offer from a consortium led by Fairfax Financial, starting a six-week shop period when the company could solicit offers and enter into negotiations. The period ends Monday, and potentially interested parties have been actively discussing their bids.
The Wall Street Journal reported earlier that Cerberus, a private equity firm, is nearing an agreement to pursue a bid for BlackBerry with two co-founders of the smartphone maker. The newspaper cited sources familiar with the matter.
Mike Lazaridis and Doug Fregin, part of the BlackBerry co-founders team, are discussing a possible joint bid with Cerberus, according to the newspaper.
(Read more: Cerberus is interested in BlackBerry: Reports)
Qualcomm, a cellphone chipmaker, is also in talks to join the potential group bid, the Journal reported.
Chinese computer giant Lenovo has also expressed interested in a bid for BlackBerry.
To read the full story in The Wall Street Journal, click here.