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Quantum Trading Strategies CIO: Chances Of LG-BlackBerry Buyout Are 20% Or Lower

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When asked about a rumor that LG Electronics was interested in a BlackBerry Ltd (NASDAQ: BBRY) takeover, Quantum Trading Strategies CIO Sean Udall told Benzinga that he said the chances of it happening were 20 percent or lower.

“There’s so many buyout rumors and so many of them end of being false,” he explained.

Udall mentioned that LG does have the money to be able to make the purchase, but added that the company’s only real success it had was with the Android Nexus phone.

If there were rumors of Microsoft Corporation (NASDAQ: MSFT) or Google Inc (NASDAQ: GOOG) buying BlackBerry, Udall would be more inclined to believe it.

“There are certain names that I would think are possible,” he said. “LG would not be at the top of that list.”

Blackberry traded roughly 1.04 percent lower in Wednesday's session, while Google was up about 2.22 percent, and Microsoft was down around 1.25 percent.

Latest Ratings for BBRY

DateFirmActionFromTo
Sep 2016Goldman SachsMaintainsSell
Sep 2016Credit SuisseMaintainsUnderperform
Sep 2016Morgan StanleyMaintainsEqual-Weight

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