As MMi reported Monday, the BlackBerry Board of Directors recently convened to explore strategic alternatives. By Tuesday, the headlines were screaming the obvious: BlackBerry is for sale.
And while the rumor mill will likely have a good deal of fun with the prospect of Apple buying the embattled Canadian smartphone maker, there are no signs to indicate that the iPhone maker will even come to the table for talks with BlackBerry.
In the past, analysts have speculated - often wildly - that Apple would make a move for BlackBerry if the public company ever decided to put itself up for sale. And although that's essentially what happened this week, Apple may have no interest in BlackBerry.
According to the Wall Street Journal, BlackBerry is looking for a fresh start and hopes a buyer can extricate the company from its current predicament. And so BlackBerry is on the market, “a signal the company that pioneered the smartphone market now sees its prospects as a stand-alone public company diminishing fast.”
BlackBerry’s decision to “explore strategic alternatives” follows the company’s all-out effort to develop new phones and a new operating system fell flat in the wireless market.
There can be no assurance, BlackBerry warned last night, that this exploration process will result in any transaction. Nonetheless, JP Morgan Securities LLC is serving as financial adviser to BlackBerry and Skadden, Arps, Slate, Meagher & Flom LLP and Torys LLP are serving as legal advisers.
So, if not Apple, who may gobble up BlackBerry? Huawei, ZTE, and Tata are just three of the early names to be rumored. But that list is going to grow a lot longer in the days to come.