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BlackBerry revealed to the public in August that it had begun seeking what the company called "strategic alternatives." At the time, options included taking the company private, joint ventures, partnerships or an outright sale.
By early September, BlackBerry had begun discussions with potential buyers, including an assortment of financial firms and IT companies, for a potential sale of the company by November. Chinese hardware company Lenovo was listed as a potential acquirer.
A few weeks following BlackBerry's buzz about seeking potential acquisition suitors came the company's second-quarter earnings report in which CEO Thorsten Heins disclosed to investors how much damage the company was truly looking at.
The report showed a $934 million write-off and subsequent plans to lay off 4,500 employees. After which, stocks plummeted, and on Friday a class-action lawsuit was filed against the company for misleading investors to support the failing company based on "artificially inflated prices."
With less than $2.5 billion left in the bank, BlackBerry's days are numbered. Fairfax Financial Holdings, BlackBerry's largest investor, placed a $4.7 billion offer on the table to take the company private. The company was given until Nov. 4 to seek alternative options, an opportunity Reuters' report suggests the company is taking seriously.
Regardless of which route BlackBerry eventually takes, or rather which company takes BlackBerry, enterprises are already feeling the pressure to jump ship from BlackBerry in the face of what is shaping up to be the final chapter for the Waterloo, Ontario-based company.