BlackBerry Ltd (NASDAQ:BBRY) has rejected those entire proposal from interested parties who bid for specific segment of the company. The Canadian smartphone company’s board is not interested to sell its company in parts even thought big technology companies such as Lenovo Group Limited (ADR) (OTCMKTS:LNVGY), Microsoft Corporation (NASDAQ:MSFT) and Apple Inc (NASDAQ:AAPL) has showed their interest in acquiring specific segments of the company which will facilitate their business, revealed by the source closed to the smartphone maker.
The source also revealed, that the Canadian smartphone maker’s management believes, the break-up is not in the interest of the company as well as its shareholders, suppliers, and customers, the source ask not to be identified as he is not allowed to discuss such thing in media.
The Canadian smartphone company previously in 2011, along with the partnership of Apple and Microsoft made a mutual bid to acquire patents from Nortel, which is a Canadian bankrupt telecoms firm. Similarly these two companies recently expressed their interest in troubled smartphone maker’s patent and intellectual property, which the company has rejected.
Previously, it was also reported that the company has also discuss the potential sale with Lenovo, Cisco Systems Inc and Google Inc, regarding parts or all of it.
On Monday, the company has stunned investors after announcing that it has abandon its plan to sell the company, and simultaneously announce new interim chief executive, as well as declared that it will raise $1 billion through selling convertible notes that will be purchase by a group of investors. According to the company statement, the expected candidates for the purchase of convertible notes include Fairfax Financial Holdings, Brookfield Asset Management, Mackenzie Financial, Canso Investment Counsel, Qatar Holding and Markel Corp.
The Waterloo, Ontario-based firm board also considered the current cost of break-up, as well as gets rid of some of its units will created liabilities, like the company commitments with suppliers, and would have balanced the monetization of the firm’s intellectual property, according to source. BlackBerry Ltd (NASDAQ:BBRY) share advanced 0.85% to $6.56 in last trading session.
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