UPDATE: BlackBerry Spikes 30% On Samsung Acquisition Report; Shares Give Back Gains As Talks Denied
Samsung may be looking to access Blackberry’s patent portfolio and is rumored to have offered a range of $13.35 to $15.49 per share.
“The offer price would imply an enterprise value of $6 billion to $7.5 billion for BlackBerry, assuming conversion of $1.25 billion of convertible debt,” according to documents seen by Reuters.
The report claimed that “executives from the two companies, which are working with advisers, met last week to discuss a potential transaction.”
Blackberry declined to comment on the report and Samsung had not yet been reached.
BlackBerry recently traded at $12.55, up 29.25 percent.
UPDATE: BlackBerry issued a response around 5:30 p.m. EST: "not engaged in discussions with Samsung with respect to any possible offer to purchase BlackBerry."
In the after-hours session, shares of BlackBerry last traded at $10.78.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.