Samsung reportedly approached BlackBerry with takeover bid

Samsung reportedly approached BlackBerry with takeover bid

A report by Reuters today says that Samsung approached BlackBerry recently with a takeover bid.

Update: BlackBerry denies that such a meeting took place.

New York, are you ready?

We’re building Momentum: an all killer, no filler event this November.

The report says that Samsung is seeking to grab BlackBerry’s patent portfolio and the company has offered “as much as $7.5 billion” according to an anonymous source.

Screen Shot 2015-01-15 at 9.55.11 am

Executives of the two companies met last week to discuss a potential transaction but no sale has been made yet.

Shares of BlackBerry stock rose over 25% after the news. Samsung may be using the purchase as a way to bolster its struggling smartphone division.

➀ Samsung talks to BlackBerry about $7.5 billion buyout [Reuters]

Read next: Facebook's third Q&A: Zuckerberg thinks existing wearables are goofy, talks future of Web

Shh. Here's some distraction