Samsung wants to takeover BlackBerry for $7.5 Billion (Update: Report denied by BlackBerry)

UPDATE: BlackBerry denies the report of Samsung offering a proposal for an acquisition. Check out the official statement by BlackBerry, below.

BlackBerry Limited (NASDAQ:BBRY)(TSX:BB) (“BlackBerry”) is aware of certain press reports published today with respect to a possible offer by Samsung to purchase BlackBerry. 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 rumors or speculation, and accordingly it does not intend to comment further.

Samsung is apparently in talks with BlackBerry for a potential take over, reports Reuters. According to a “source familiar with the matter”, the South Korean company is interested in BlackBerry’s immeasurable patent portfolio, and executives from both companies met last week to discuss a potential deal.
Samsung offered Canada’s BlackBerry an initial price range of $13.35 to $15.49 per share, which would increase the value of the stock by 38-60%. The company’s enterprise worth will be around $6 to 7.5 billion. However, since the rumour hit the interwebz, BlackBerry’s stock has skyrocketed about 30% already, and currently stands at $15.02 per share. The Korean giant would have to give a better proposal now, if it really wants to acquire the company.

If this deal goes through, there will be two major outcomes. Samsung will own all of BlackBerry’s patents, which are alone estimated to be worth around $1 billion to $3 billion, and BlackBerry’s world-famous security platform.
Do you think the deal will go through? Let us know in the comments below.

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