Cerberus reportedly exploring joint bid for BlackBerry with co-founders

|About: BlackBerry Ltd. (BB)|By:, SA News Editor

The WSJ report has led BlackBerry (BBRY -0.9%) to tick slightly higher. However, shares remain lower on the day.

Cerberus has already signed an NDA to look at BlackBerry's books, and co-founders Mike Lazaridis and Douglas Fregin (combined 8% stake) have announced their interest in a bid, should they obtain enough funding.

The report comes ahead of Fairfax's Nov. 4 deadline for completing due diligence on BlackBerry and signing a transaction agreement. Investors are quite skeptical Fairfax will line up the funds it needs to proceed with its $9/share bid.