Last went viral last week that Samsung was planning to acquire BlackBerry, in a deal worth $7.5 billion. Apparently, this was good news as BlackBerry stock rose with as much as 30% to close at $12.60, their highest level since 2012.
However, their stock came crashing back to 18%, when BlackBerry released an official statement to deny the reports.
Well, it turns out that the reports is true. Financial Post reports that despite the statement denying the rumors, the two companies are indeed in private take-over talks according to a reliable source.
However, their stock came crashing back to 18%, when BlackBerry released an official statement to deny the reports.
Well, it turns out that the reports is true. Financial Post reports that despite the statement denying the rumors, the two companies are indeed in private take-over talks according to a reliable source.
A document obtained by the Financial Post, prepared for Samsung by New York-based independent investment bank Evercore Partners, outlines the case for, and the potential structure of a possible purchase of BlackBerry.According to reports, the two companies were planning to break the news after and agreement is reached, until the news was leaked by Reuters. This caught Samsung off guard due to its informal nature and BlackBerry was forced to deny the claims. Negotiation is still on going.
“Samsung is still evaluating their options. So it’s still very much an open deal. Samsung hasn’t walked away” from an acquisition. “They’re leaning towards it.”If acquisition goes through, Samsung will have access to BlackBerry portfolio of enterprise product and services patent.
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