Thursday, January 15, 2015

Stock of BlackBerry soar on report of possible takeover by Samsung

A BlackBerry Z10 is shown during the launch of the company's new smartphones in Toronto on Wednesday, Jan. 30, 2013. CP
The Canadian Press
Shares of BlackBerry Ltd. (TSX:BB) spiked nearly 30 per cent Wednesday following a report that smartphone maker Samsung Electronics Co. Ltd. has offered to buy the Canadian company for as much as US$7.5 billion.

Reuters news agency says Samsung proposed a range of US$13.35 to US$15.49 per share in its initial approach, a premium of 38 to 60 per cent over the company’s stock price before the report emerged.

The report cites both an unnamed source familiar with the offer as well as related documents.

BlackBerry’s stock rose to its highest level since early 2012 on the Toronto Stock Exchange, closing at $15.02, an increase of $3.42. In New York, BlackBerry shares (Nasdaq:BBRY) closed up $2.89 at US$12.60.

A representative for Samsung said the company declined to comment, while messages left with representatives for BlackBerry were not immediately answered.

In November, BlackBerry and Samsung announced a partnership where the Waterloo, Ont.,-based company would make its mobile security technology available for the Android operating system in 2015.

No comments:

Post a Comment