Skip to main content

Market Overview

EXCLUSIVE: Lenovo Could Make An Offer For BlackBerry As Early As This Week

Share:
EXCLUSIVE: Lenovo Could Make An Offer For BlackBerry As Early As This Week

A source familiar with the matter, has told Benzinga that China's Lenovo Group Limited (OTC: LNVGY) could make an offer to acquire Canadian mobile communications company, BlackBerry Ltd (NASDAQ: BBRY), as early as this week.

The source said Lenovo's first offer would be $15.00 per share, with a deal ultimately getting done around $18.00 per share.

Lenovo's CFO Wong Wai Ming said in January 2013, that BlackBerry (still known as Research in Motion at that time) was one of many possible opportunities for the company. BlackBerry played down the comment.

Later that year, the Canadian government reportedly blocked a potential BlackBerry deal with Lenovo, due to national security concerns.

Lenovo announced Wednesday, the creation of a new company focused on internet-based smart devices, to be launched on April 1, 2015. The company will operate under a separate name and brand.

A spokesperson for BlackBerry told Benzinga on Saturday, the company does not comment on rumors or speculation. A Lenovo spokesperson was not immediately available for comment.

BlackBerry closed Friday at $9.49, a gain of 2 percent.

To get this story before it's news, sign up for Benzinga Pro, Wall Street's most timely real-time newswire.

 

Related Articles

View Comments and Join the Discussion!

Posted-In: M&A News Rumors

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com