Samsung Reportedly Looking to Acquire BlackBerry for $7.5 Billion [Update]

Samsung Reportedly Looking to Acquire BlackBerry for $7.5 Billion [Update]

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Samsung has reportedly approached BlackBerry about a potential buyout, reports Reuters. According to a person familiar with the matter and documents seen by Reuters, Samsung is looking to spend $7.5 Billion to acquire BlackBerry for the company's patent portfolio.

Executives 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.

Samsung originally proposed a range of $13.35 to $15.49 per share, which is 38 to 68 percent more than BlackBerry's current trading price. BlackBerry shares are up more than 30 percent on the news of the possible acquisition.

Representatives from BlackBerry declined to comment, and Samsung could not be reached for comment. BlackBerry just recently unveiled the BlackBerry Classic for those who appreciate a physical QWERTY keyboard.

Update: BlackBerry has issued a press release denying any claims of Samsung approaching the company with an offer.

BlackBerry is aware of certain press reports published today with respect to a possible offer by Samsung to purchase BlackBerry. BlackBerry has not engaged in discussions with Samsung with respect to any possible offer to purchase BlackBerry. BlackBerry’s policy is not to comment on rumors or speculation, and accordingly it does not intend to comment further.

Samsung Reportedly Looking to Acquire BlackBerry for $7.5 Billion [Update]
keithk79 - January 15, 2015 at 3:14am
This was a market Rumor people. SAMSUNG IS NOT BUYING BLACKBERRY.
FTW - January 15, 2015 at 3:28am
We're just saying what were to happen or just predict.
Raahee98 - January 15, 2015 at 1:33am
Thank god....
Nat - January 14, 2015 at 11:58pm
Nook is now owned by Samsung, then this is upcoming. What's next, are they acquiring Amazon to? They barely have anything good compared to windows. I know they started but after all these years, just barely anything they would've gotten a chance of.
keithk79 - January 14, 2015 at 11:45pm
I imagine the only reason they commented on this rumor was because they had an almost 30% jump in the stock right before the close and didn't want it to carry over to tomorrow. Just to find out that it was bullhshit. Then people would be pointing at Blackberry like they were trying to manipulate the stock.
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