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BlackBerry & Samsung Deny Takeover Rumor, BlackBerry Gains Erased

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BlackBerry Ltd (NASDAQ: BBRY) shot up sharply higher Wednesday following a Reuters report that Samsung (OTC: SSNLF) was in discussion to offer $13.35 to $15.49 per share for the smartphone maker. Since closing at $12.60, both BlackBerry and Samsung have denied the rumor.

That erased the gains in BlackBerry, sending the stock to $10.45, 17 percent lower.

JP Morgan’s Rod Hall wrote in a note Thursday that there is “some strategic logic” to the deal, which would give Samsung enterprise smartphone and messaging capabilities and sales. However, he said that barring a takeover, he sees BlackBerry as a difficult stock to own – at least until more evidence of BES 12 adoption emerges.

 

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