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Samsung approaches BlackBerry on takeover

ICT Desk |
Update: 2015-01-15 09:47:00
Samsung approaches BlackBerry on takeover Photo Courtesy: businesstimes.com

DHAKA: Samsung Electronics recently offered to buy BlackBerry for as much as USD 7.5 billion, media report 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 the media in Seoul that it has no plans to acquire Blackberry, reports telecompaper.com.

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.

BDST: 2046 HRS, JAN 15, 2015

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