Blackberry Co-Founder Mike Lazaridis Ups Stake to 8% in Bid for Buyout
Michael Lazaridis, Blackberry: A couple of moments ago, Michael Lazaridis reported owning 41.68 million shares of BlackBerry Ltd (NASDAQ:BBRY). The position held by Lazaridis represents 8% of the company, according to the filing with the SEC. At the beginning of the year, Lazaridis reported owning 29.9 million shares of the company.
Michael Lazaridis is one of the founders of Blackberry, also he served as the President, Co-CEO and Co-Chair of the company. He, and another founder, Douglas Fregin signed an agreement, which states that the two are interested in a joint bid to acquire all shares of the company not owned by them currently, the filing said.
Lazaridis and Fregin agreed to work just with each other regarding the acquisition of BlackBerry or a part of the assets, and to " jointly coordinate with respect to the development of a strategy."
A couple of weeks earlier, BlackBerry signed a letter of intent to be purchased by several investors led by Canadian insurer, Fairfax Financial Holdings Ltd (PINK:FRFHF), which is run by renowned value investor Prem Watsa.
Check out the agreement between both founders, and the original Lazaridis filing below: