Market Overview

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

Related BBRY
Jim Cramer Weighs In On Adobe, Blackberry, Energizer, Weight Watchers And More
FTC's Anti-Trust Suit against Qualcomm Remains on Track

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

May 2017Raymond JamesDowngradesOutperformMarket Perform
Apr 2017CIBCUpgradesUnderperformerNeutral
Apr 2017MacquarieUpgradesNeutralOutperform

View More Analyst Ratings for BBRY
View the Latest Analyst Ratings

Posted-In: Blackberry Google MicrosoftRumors Exclusives Analyst Ratings Tech Interview


Related Articles (BBRY)

View Comments and Join the Discussion!