BlackBerry Z30-Front

It seems that there were a lot of suitors for BlackBerry when it was briefly up for sale. Microsoft and Apple allegedly approached BlackBerry about acquiring parts of the Waterloo company, but executives refused, saying a split-up wasn't in its best interests, particularly for shareholders. BlackBerry's board reportedly rejected several proposals from some really big-name competitors, which were interested in the company's intellectual property and patents. Not long ago, news hit that BlackBerry was supposedly contemplating breaking off BBM as its own entity, but nothing ever came to fruition. Google, Cisco and Lenovo also approached BlackBerry about acquiring some of its assets, sources claim.

All parties have refused to comment, and it's currently unclear what proposals BlackBerry rejected. On Monday, BlackBerry announced a bombshell when it revealed it was no longer for sale, and that Thorsten Heins, who didn't hold position as CEO for very long, was out at the company.

"The BlackBerry Board conducted a thorough review of strategic alternatives and pursued the course of action that it concluded is in the best interests of BlackBerry and its constituents, including its shareholders," the company said earlier this week.

In addition to finding the best chance of a turnaround was by staying together, breaking the company apart may have actually created a whole host of new problems, sources said, including prior commitments with suppliers. One source said that BlackBerry's assets, which range from devices to network and software patents, would have caused a dip in value if they were broken up from each other. One company, Lenovo, was actually interested in the entire package, but concerns over the Canadian government's security review process lead to a dead end.

With $1 billion locked up from Fairfax Financial, BlackBerry is giving one last go at a turnaround, though given the company's declining performance over the past few years, it doesn't really look like that's going to happen.