FAQs
- What prompted BlackBerry to form a special committee?
- To explore strategic alternatives to enhance value and accelerate BlackBerry 10 deployment.
- What are the possible strategic alternatives being considered?
- Joint ventures, partnerships, or a sale of the company.
- Why did BlackBerry’s BlackBerry 10 platform fail to succeed?
- It’s unclear, but the evolving industry and competitive landscape may have played a role.
- Did BlackBerry improve its financial position before forming the committee?
- Yes, it generated over $3 billion in revenue in the fiscal quarter ended June 1.
- What percentage have BlackBerry shares declined since the beginning of the year?
- 18%.
- Who is on the special committee formed by BlackBerry?
- Timothy Dattels (chairman), Thorsten Heins (CEO), and other members.
- Has BlackBerry’s CEO ruled out a sale of the company?
- Heins was reportedly unwilling to discuss acquisitions in the past but may be more open now.
- Which companies have expressed interest in acquiring BlackBerry?
- Lenovo and possibly others.
- Why did Prem Watsa, the largest BlackBerry shareholder, step down from the board of directors?
- Potential conflicts of interest as the committee explores strategic alternatives.
- What is the current price of BlackBerry shares?
- $9.76.
- How long has the special committee been formed?
- Not specified in the article.
- What is the main goal of the strategic alternatives being explored?
- To increase long-term value for customers and shareholders.
Summary
BlackBerry has made a significant decision to establish a special committee to explore strategic alternatives for the company. This move is driven by the desire to enhance value and accelerate the deployment of its BlackBerry 10 platform. The committee will consider a range of options, including joint ventures, partnerships, and even a potential sale of the company.
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BlackBerry’s decision comes after a challenging period for the company, with its BlackBerry 10 platform failing to gain traction in the market. Despite some financial improvements, BlackBerry continues to face pressure from investors and a changing industry landscape.
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The formation of the special committee suggests that BlackBerry is open to considering significant changes, including a possible sale. The company’s CEO, Thorsten Heins, has previously expressed a willingness to hold discussions regarding acquisitions.
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One potential acquirer that has been mentioned is Lenovo, a PC maker that has expressed interest in BlackBerry in the past. Prem Watsa, the largest BlackBerry shareholder, has stepped down from the board of directors to avoid conflicts of interest.
Overall, the formation of this special committee is a sign that BlackBerry is exploring all options to improve its position and deliver value to shareholders. It remains to be seen what strategic alternatives will be pursued, but it’s clear that the company is taking steps to address its challenges.
Source: https://anytimesoftcare.com
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