Samsung recently offered to buy BlackBerry for as much as $ 7.5 billionJanuary 26, 2015November 19, 2015admin
Samsung recently offered to buy BlackBerry for as much as $ 7.5 billion

South Korea world biggest mobile brand Samsung Electronics recently offered to buy BlackBerry Ltd for as much as $7.5 billion, seeking its valuable patents as it battles Apple in the corporate market, according to a person familiar with the matter and documents seen by Reuters.

Samsung Electronics 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, the source said on Wednesday.

Representatives from the two big organization(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 and all private.

Ontario-based Waterloo Company said in latest 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 recently offered to buy BlackBerry for as much as $ 7.5 billion

Samsung recently offered to buy BlackBerry for as much as $ 7.5 billion

Separately on Wednesday, 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.

The board believes offering prices, some in excess of $7 billion, fall well below BlackBerry’s potential asset value in the next few years, according to the Globe and Mail report.

Blackberry, a one-time investor darling that pioneered smartphones, has regained some of its lost swagger under Chief Executive John Chen, who is leading a bid to regain market share it has lost to Apple Inc, Google Inc and Samsung.