BLACKBERRY DENIES TAKEOVER TALK

Jan 14, 2015

By Michael Kramer

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— UPDATE —

Blackberry denies a report that Samsung has approached it with a takeover offer.

In a statement this evening the company says “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 rumours or speculation, and accordingly it does not intend to comment further.”

Blackberry shares shot up nearly 30 per cent – after a report that South Korea’s Samsung Electronics has offered to buy the Waterloo-based company:  for as much as $7.5 billion U.S.

Reuters news agency cites both an unnamed source familiar with the offer – as well as related documents.

The report says Samsung proposed a range of $13.35 to $15.49 per share in its initial offer.

Blackberry announced a high-profile security partnership with Samsung in November – and it remains unclear whether Blackberry was open to the reported approach.

The Canadian smartphone maker’s stock rose to its highest level since early 2012 on the Toronto Stock Exchange – and closed today at $15.02, an increase of $3.42.

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