technology

Samsung Denies Report on BlackBerry Takeover Offer

Samsung Electronics Co. denied a report it sought to acquire BlackBerry Ltd., after Reuters said the Korean electronics maker had recently proposed buying the Canadian company for as much as $7.5 billion.

The report is “groundless,” Samsung said in an e-mailed statement. Reuters, citing an unnamed person familiar with the matter and documents, reported Samsung approached Waterloo, Ontario-based BlackBerry with an initial offer price of $13.35 to $15.49 a share. Reuters also said executives from the two companies met last week to discuss a transaction.

BlackBerry “is aware of certain press reports published today with respect to a possible offer by Samsung to purchase BlackBerry,” the company said in a statement dated Jan. 14. “BlackBerry has not engaged in discussions with Samsung with respect to any possible offer to purchase BlackBerry.”

Samsung was unchanged at 1,345,000 won as of 9:09 a.m. in Seoul trading.

    Before it's here, it's on the Bloomberg Terminal. LEARN MORE