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.

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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.

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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]

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