Embattled smartphone company BlackBerry Ltd plans to go private in a $4.7 billion deal being orchestrated by its largest shareholder.
BlackBerry co-founders Mike Lazaridis and Douglas Fregin are considering a bid to buy the struggling smartphone maker, according to a securities filing on Thursday, raising the prospect of an alternative to a $4.7 billion offer led by its top shareholder.
As Research in Motion goes through a major shake-up, Fairfax Financial founder Prem Watsa has taken a seat on its board, expanding it to 11 members.
He has been a long time Blackberry fan and user.
Months before Fairfax Financial Holdings Inc bid $4.7 billion for BlackBerry Ltd, Fairfax boss Prem Watsa played a role in securing a golden parachute worth as much as $55 million for the smartphone maker's chief executive.
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