Last month BlackBerry accepted a tentative $4.7bn (£2.9bn) buyout offer from Fairfax Financial Holdings after the Canadian firm warned that it expected to report a $950m loss in its second quarter results. Private equity group Cerberus Capital Management is now considering a rival offer for BlackBerry, according to Reuters.
BlackBerry reported yesterday that it expects to incur charges of $400m through the rest of the year as part of its cost-cutting initiative that includes the previously announced 40 per cent reduction of its workforce.
The company’s shares were up 0.5 per cent on the news yesterday, reversing a five per cent fall earlier in the session, to close at $7.90.
BlackBerry declined to comment on any further developments in the sale process.