Samsung approaches BlackBerry on takeover - report

News Wireless Global 15 JAN 2015
Samsung approaches BlackBerry on takeover - report
Samsung Electronics recently offered to buy BlackBerry for as much as USD 7.5 billion, Reuters reports citing a person familiar with the matter and documents seen. Samsung is interested in acquiring BlackBerry's patents, as well as strengthening its position in the enterprise market. Samsung proposed an offer of USD 13.35-15.49 per share, representing a premium of 38-60 percent over BlackBerry's current trading price. 

Representatives from the two companies met last week to discuss the potential transaction, according to the report. However, BlackBerry issued a statement denying it was in talks on a possible takeover of the company. Samsung also told Reuters in Seoul that it has no plans to acquire Blackberry. 

Separately, Canadian newspaper Globe and Mail reported BlackBerry has shunned a handful of takeover overtures in recent months as its board and largest investor think its restructuring strategy will deliver greater shareholder value than current acquisition offers. Most recently, Lenovo has been reported as a possible suitor for the company. 

Categories:

Mobile

Companies:

Samsung,  BlackBerry

Regions:

Global

Tags:

Handsets, M&A buyouts & divestments

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