Samsung makes $7.5B buyout bid for BlackBerry

A Reuters story about the move sent Blackberry shares soaring

mergers and acquisitions
Credit: Shutterstock

Mobile giant Samsung Electronics approached rival BlackBerry with a buyout proposal worth as much as $7.5 billion, according to a Reuters news report.

Samsung offered BlackBerry a buyout price of between $13.35 to $15.49 per share, according to the news agency, which cited documents and an unnamed person with knowledge of the matter.

Samsung is reportedly also interested in acquiring BlackBerry's patent portfolio.

BlackBerry stock skyrocketed almost 30 percent after the news broke, closing at $12.60 on the Nasdaq.

Samsung's acquisition of BlackBerry could give it a more prominent presence in developing markets, where older BlackBerry models are still selling well. Samsung's earnings also took a hit in the latter part of 2014.

To express your thoughts on Computerworld content, visit Computerworld's Facebook page, LinkedIn page and Twitter stream.
Windows 10 annoyances and solutions
Shop Tech Products at Amazon
Notice to our Readers
We're now using social media to take your comments and feedback. Learn more about this here.