BlackBerry to consider takeover bids as Z10 sales fail to revive its fortunes

BlackBerry Ltd’s announcement that it will consider takeover bids followed almost a year of advisers unsuccessfully canvassing potential buyers in search of a deal, two people with knowledge of the matter said.

In recent months, as BlackBerry sales and subscriber numbers deteriorated, bankers from JPMorgan Chase & Co and RBC Capital Markets quietly contacted possible bidders and found little interest in buying the whole company, especially among private-equity firms.

BlackBerry’s dimming prospects led the company to announce on Aug 12 a special board committee that will evaluate all possible options, including joint ventures, partnerships or an outright sale.