A major landmark in the BlackBerry takeover process is set to happen later today, when it is revealed how many companies are willing to make a counter-bid for the struggling Canadian smartphone giant.
According to Canadian newspaper The Globe and Mail, over recent weeks executives from the company have been trying to drum up interest from a range of bidders, including Facebook.
The deadline for rival bids is part of the takeover process kicked off when a consortium led by Canadian investment guru Prem Watsa’s Fairfax Financial Holdings signed a $US4.7 billion letter of intent to buy the company.
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However, Reuters reports Watsa might be struggling to raise the capital to finance his takeover bid, with several large lenders reportedly turning down the consortium over concerns about BlackBerry’s long-term viability.
BlackBerry recently began a program that will see it cull 40% of its worldwide workforce, or around 4500 jobs.
Recently, the company took out full-page ads in 30 newspapers across nine countries, in a bid to reassure its customers and business partners about its ongoing viability despite recent losses, job cuts and the sale process.