The BlackBerry board decided against a break-up even though the likes of Apple and Microsoft tempted it with offers, according to Reuters.

The company has turned down bidders interested in acquiring parts of its business because it did not believe such a move would be in its wider interests, which it defines as including employees, customers and suppliers.

Apple and Microsoft have both expressed interest in acquiring patents from BlackBerry, said sources.

Discussions have also gone on with others including Cisco, Google and Lenovo about selling all or parts of the company.

Instead of a sale, the BlackBerry board opted last week for a cash injection of $1 billion from leading investor Fairfax Financial and other backers. However, it was initially expected that Fairfax was going to make a firm offer to buy the company outright.

At the same time, it was announced that CEO Thorsten Heins is being replaced on an interim basis by John Chen (pictured), former chairman and CEO of Sybase.

More details have emerged about Chen’s remuneration. According to a regulatory filing by BlackBerry the incoming acting chief executive and executive chairman will have a basic salary of $1 million a year, plus a bonus of up to $2 million.

However, he has also been granted 13 million restricted shares which are worth about $85 million and will vest over the next five years. Hence, his total package is worth $88 million.

The filing gives a breakdown of which investment firms Fairtax has got on board for its $1 billion cash injection.

In addition to the $250 million Fairfax is providing, Canada’s Canso Investment Counsel is the leading backer with $300 million. Mackenzie Financial put up $200 million, Qatar Holding and Markel have each provided $100 million, and Brookfield will contribute $50 million.

BlackBerry felt issuing convertible notes offered more certainty than a break-up which carried more risks. In a break-up, some businesses would have been closed, creating liabilities, for instance with suppliers, which would have eaten into the proceeds from selling its patents.

Also, many of BlackBerry’s assets are so intertwined that breaking them up would have undermined value.

Finally, any deal with a foreign company would have run into a lengthy review by the Canadian government, an issue which reportedly scuppered Chinese vendor Lenovo’s chances of striking a deal.