Samsung Reportedly Talks to BlackBerry regarding $7.5 Billion Buyout

Samsung Electronics recently offered to buy BlackBerry Ltd for as much as $7.5 billion (roughly Rs. 46,632 crores), seeking its valuable patents as it battles Apple in the corporate market.Reportedly South Korea’s Samsung proposed an initial price range of $13.35 to $15.49 per share, representing a premium of 38 percent to 60 percent over BlackBerry’s current trading price.

Representatives from the two companies, which are working with advisers, met last week to discuss a potential transaction, the source said, asking not to be identified because the conversations are private.

The Waterloo, Ontario-based company said in a statement that it “has not engaged in discussions with Samsung with respect to any possible offer to purchase BlackBerry.” Shares of BlackBerry, which soared nearly 30 percent following the Reuters report, fell back about 15 percent in after-hours electronic trading following the statement.

Samsung also told Reuters in Seoul that it has no plans to acquire Blackberry. “Media reports of the acquisition are groundless,” a company spokeswoman said.

Source : NDTV

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