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  • BlackBerry Board Rejected Proposals to Break up the Company including Apple's Offer


    According to a recently published report, the board of the smartphone hardware and software maker, BlackBerry, fought off proposals from tech giants like Apple, Microsoft, Lenovo and others, each of which wanted to buy a piece of the company. Citing people who claim to be familiar with the matter, Reuters reports that BlackBerry’s board of directors decided against breaking up and selling the struggling company piecemeal, saying it wasn’t in the best interest of its stakeholders. The firm was previously under consideration for a takeover bid from Fairfax Capital.

    Sources said Apple was among the parties interested in buying a part of BlackBerry’s assets, especially as it pertained to intellectual property. Microsoft also expressed interest in purchasing a share of the Canadian company’s patents, though details of the proposals have yet to surface. It’s unknown what patents were being reviewed for purchase but BlackBerry has a cache of wireless technology properties that may have shown value in light of Apple’s ongoing patent struggle with Samsung, Google’s Motorola and other smartphone rivals.

    As reported recently, BlackBerry ultimately took itself off the market, instead opting for a $1 billion infusion from a small group of investors. The investment could potentially reach $1.25 billion according to the company. In addition to the investment, CEO Thorsten Heins resigned both his position and seat on the board, with former Sybase chief executive John Chen taking over in the interim. Chen will reportedly be receiving a $1 million base salary, a $2 million performance-based bonus and restricted stock units worth approximately $85 million at today’s prices. The RSUs are contingent on his continued employment and will vest in chunks over the next five years.

    Source: Reuters
    This article was originally published in forum thread: BlackBerry Board Rejected Proposals to Break up the Company including Apple's Offer started by Akshay Masand View original post
    Comments 8 Comments
    1. thazsar's Avatar
      thazsar -
      $88 million in five years w/out any expectations to save the company!?!?! I'd take that job, too!
    1. fleurya's Avatar
      fleurya -
      Quote Originally Posted by thazsar View Post
      $88 million in five years w/out any expectations to save the company!?!?! I'd take that job, too!
      $85 million of that won't be worth squat if he doesn't save the company. That's a pretty big incentive to save it!

      Current market cap is only $3.4 billion. Apple should just buy it outright!
    1. hitman10's Avatar
      hitman10 -
      Nah, and I hope apple and these other companies dont get even a piece. Way to go to our prime minister who wouldnt let BB be sold to anyone other that a Canadian. Well that passed and there are back in the **** hole. The CEO didnt resign he was fired, so he resigned. Blackberry is a great company, even when it comes to there phone.
    1. fanboyfanboy's Avatar
      fanboyfanboy -
      Quote Originally Posted by fleurya View Post
      $85 million of that won't be worth squat if he doesn't save the company. That's a pretty big incentive to save it!

      Current market cap is only $3.4 billion. Apple should just buy it outright!
      I personally just want apple to buy the patents associated with BBM. Imagine iMessage and BBM in one? That would be absolutely amazing...
    1. tridley68's Avatar
      tridley68 -
      Quote Originally Posted by hitman10 View Post
      Nah, and I hope apple and these other companies dont get even a piece. Way to go to our prime minister who wouldnt let BB be sold to anyone other that a Canadian. Well that passed and there are back in the **** hole. The CEO didnt resign he was fired, so he resigned. Blackberry is a great company, even when it comes to there phone.
      6months from now they will be begging for Apple to give them a buyout deal and if I were Apple I would lower my offer just for the games they are playing!
    1. King_O_Hill's Avatar
      King_O_Hill -
      Just another bad decision over there at RIM.
    1. wb4whd's Avatar
      wb4whd -
      They would have been smart to sell off the company. BB has been a joke for years now and they are dying fast. To be honest, Windows mobile will most likely follow suit before too long and the only smart phones that will remain will be Apple and Android.
    1. unixman84's Avatar
      unixman84 -
      Quote Originally Posted by tridley68 View Post
      6months from now they will be begging for Apple to give them a buyout deal and if I were Apple I would lower my offer just for the games they are playing!
      in the voice of a former game show host... "You are correct!".

      Followed by a Disney quote... "Proceed to games".