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11-08-2013, 09:29 PM #1
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.
11-09-2013, 08:47 AM #2
$88 million in five years w/out any expectations to save the company!?!?! I'd take that job, too!
11-09-2013, 09:09 AM #3
11-09-2013, 10:02 AM #4
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.
11-09-2013, 12:32 PM #5
11-09-2013, 05:50 PM #6
11-09-2013, 08:08 PM #7
Just another bad decision over there at RIM.
11-09-2013, 09:36 PM #8
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.
11-10-2013, 03:42 AM #9