Samsung Looking To Buy BlackBerry For Up To $7.5 Billion, According To Report
Samsung is reportedly in discussions for the purchase of smartphone manufacturer BlackBerry--and it's sent the Canadian company's current value soaring.
Reuters reports that Samsung has offered as much as $7.5 billion for BlackBerry, with the initial bid per share believed to be somewhere between $13.35 and $15.59. Reuters cites an unnamed source it believes to be familiar with the matter, and has seen documents pertinent to the developments.
The approximate pricing of those shares is at least a 37 percent premium (rising to 60 percent if the offer falls on the high end) on BlackBerry's latest closing price, which has since risen as much as 28 percent to $12.45 per share since the news. Reuters says executives from the two companies met last week to discuss a potential deal.
BlackBerry's influence has dwindled as ground was eaten up by Apple, Google, and Samsung itself over the last few years. Revenue has fallen to $793 million in quarter three from $1.19 billion a year before. An acquisition could reportedly net Samsung BlackBerry's patents, which would give it an edge against Apple in the development of new products.