Another Day, Another BlackBerry Rumor
For at least three years, there have been rumors that make BlackBerry Ltd (NASDAQ: BBRY) a perennial takeover candidate.
In 2013, CEO Thorsten Heins was even vocal about his desire to sell the company - working a $56 million parachute into his contract if there was a change of control. Since that was unsuccessful, the stock has lingered, moving up and down with the most-recent rumors.
On Tuesday, rumors resurfaced that Microsoft Corporation (NASDAQ: MSFT) might be interested in the company. The rumors suggest that Microsoft may be willing to pay between $6 and $7 billion for the company, a per-share price of between $11 and $13. Microsoft had reportedly retained Deutsche Bank and Goldman Sachs to conduct due diligence and value the company.
Shares of Blackberry initially spiked about $0.20, before falling off as the rumors failed to materialize. Shares closed at $10.12.
Related Link: Every BlackBerry M&A Rumor That Turned Out To Be False
There are also continual rumors that SAMSUNG ELECT LTD (OTC: SSNLF) or Google Inc (NASDAQ: GOOG) might also be interested. In January, the stock soared 30 percent following a Reuters report that Samsung made a $7.5 billion offer. The report was quickly dismissed. Dating back to 2013, there have been separate rumors that Cisco Systems, Inc. (NASDAQ: CSCO), SAP SE (NYSE: SAP) or Intel Corporation (NASDAQ: INTC) were all interested.
Rumors also swirled last year that a Chinese computer manufacturer, like Lenovo, might be interested in BlackBerry. However, CEO John Chen said at the time that the company was likely prohibited from selling to a Chinese company.
Year-to-date, BlackBerry is down 7.8 percent and sharply off its 52-week high above $12.
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