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Exclusive: Samsung Talks To Blackberry About $7.5 Billion Buyout - Source

By Ron Burgundy,
January 15, 2015 in Tech News

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Ron Burgundy

Posted January 15, 2015

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Posted January 15, 2015

By Jennifer Ablan and Liana B. Baker NEW YORK/SEOUL (Reuters) - Samsung Electronics recently offered to buy BlackBerry Ltd for as much as $7.5 billion, seeking its valuable patents as it battles Apple in the corporate market, according to a person familiar with the matter and documents seen by Reuters. South Korea's Samsung proposed an initial price range of $13.35 to $15.49 per share, representing a premium of 38 percent to 60 percent over BlackBerry's current trading price, the source said on Wednesday. The Waterloo, Ontario-based company said in a statement that it "has not engaged in discussions with Samsung with respect to any possible offer to purchase BlackBerry. Shares of BlackBerry, which soared nearly 30 percent following the Reuters report, fell back about 15 percent in after-hours electronic trading following the statement.