到目前为止，看来黑莓（Blackberry）还没有被Fairfax金融收购，也没被高通（Qualcomm）、瑟伯勒斯资本管理公司（Cerberus）、SAP、谷歌（Google）、联想（Lenovo）、Facebook等公司收购。当然，更没有被我姨妈卡罗尔买下。我想表达的意思是，它们都是这家有望成为Palm第二公司的潜在买家。

    11月4日上午，加拿大企业黑莓宣布，由于同属加拿大的保险集团Fairfax未能筹措到足够资金，黑莓将放弃与后者达成的47亿美元出售协议。

    黑莓同时还宣布解雇首席执行官托斯腾•海因斯，同时发行可转换债券融资10亿美元，其中Fairefax将购买2.5亿美元。这实际标志着出售黑莓的议案已告一段落。债券为期7年，票面利率为6%，在黑莓股价达到10美元时可选择转换为普通流通股。（比黑莓上周五收盘时股价高出28.7%——不过本周一随着坏消息传出，黑莓股价再次暴跌。）

    塞贝斯公司（Sybase）前首席执行官程守宗将出任黑莓临时首席执行官。程守宗还是私募资本公司银湖资本（Silver Lake）的高级顾问。【银湖曾打算收购戴尔（Dell），但对黑莓没表现出过半点兴趣。】

    诚然，许多深陷泥潭的科技公司最终都落得无人问津的地步。即便一些鼎鼎大名的公司也是如此。不过，它们总是向媒体宣称有许多求购者——直到最后一刻还不忘抓住大家的眼球。黑莓的情况有些不同，迄今为止，鲜有媒体指破它自编自演的这出好戏。让我们看看下面几个例子：

    • 路透社（Reuters）：思科（Cisco）、谷歌、SAP探讨收购黑莓。

    • 华尔街日报（WSJ）：联想接洽黑莓

    • 纽约时报（NY Times）：高通和瑟伯勒斯考虑联合收购黑莓

    • 华尔街日报：黑莓上周与Facebook探讨收购可能

    很多时候，当我致电这些报道中提到的潜在“买家”，联系这些公司企业发展部门的人，通常会出现下面这样的对话：

    我：贵公司是否在考虑收购黑莓？

    他们：没有。

    我：但有报道称你们有意收购黑莓，你们对此怎么看？

    他们：黑莓的人邀请了我们，我们赴会完全是出于礼貌。

    最明显的破绽就是，每周都会传出有某家新的公司有意收购黑莓，但此前传出有意收购的公司却再也没了动静。更别提Fairfax最初提出的收购案中，居然没有规定毁约费。

    我明白，黑莓被收购的报道能带来很多点击量，但要到什么时候，编辑对报道真实性的坚持才会压倒对点击量的渴求？情况往往是，假如收购案最终成真，反倒不会有什么报道了。（财富中文网）

    译者：项航    

    Well, it looks like Blackberry (BBRY) isn't being acquired by Fairfax Financial. Or by Qualcomm. Or by Cerberus, SAP, Google, Lenovo, Facebook or my Aunt Carol. From what I can tell, they all were equally likely buyers for this generation's version of Palm.

    The Canadian company this morning announced that its $4.7 billion "agreement" with Fairfax is off, after the Canadian insurance conglomerate failed to line up financing.

    In fact, the entire sale attempt is dead – with Blackberry instead tossing CEO Thorsten Heins and agreeing to sell US$1 billion in convertible notes to Fairfax ($250m) and other investors. The debentures have a 7-year term, 6% coupon and are convertible into common stock at a price of US$10 per share (28.7% premium to Friday's closing price – although shares are tanking on the news).

    The new interim CEO will be John Chen, the former Sybase CEO who had been serving as a senior advisor to private equity firm Silver Lake (which, for the record, went all-in for Dell but wouldn't touch Blackberry with a 10-foot keyboard).

    To be sure, lots of struggling tech companies fail to get acquired. Even well-known ones. And, along the way, they often insist to reporters that there are interested suitors-- in a desperate plea for one last bout of attention. What was unusual with Blackberry, however, is how few reporters called the obvious bluff. Just look at this sampling

    • Reuters: Cisco, Google, SAP discussing BlackBerry bids

    • WSJ: Lenovo Approaches BlackBerry

    • NY Times: Qualcomm and Cerberus Join a Bid for BlackBerry

    • WSJ: BlackBerry Met With Facebook Last Week on Potential Bid

    In many of those cases, I called corporate development folks at the possible "buyer." Usually it went like this:

    Me: Are you considering a Blackberry bid?

    Them: No.

    Me: Then what do you make of the reports?

    Them: They asked us to look, so we took the meeting as a courtesy.

    The key tell was how a new suitor was leaked each week, rather than the prior suitor becoming more serious. Not to mention the fact that Fairfax structured its initial "bid" without being required to pay a breakup fee.

    I know that Blackberry acquisition stories generated lots of clicks, but at what point does editorial judgment overwhelm self-interest? If a deal ultimately happens, it will be for scrap. And that was always the case.