Blackberry and Samsung (Photo : www.time.com)
Blackberry has denied reports that it had talks with Samsung regarding a potential takeover. Early Thursday, its stock dropped 17% down because of its continuous denial on the matter.
"Blackberry has never engaged in meetings with Samsung about any possible plan of a takeover," the company explained. They added, "Our policy is never to comment of speculations and rumors. Accordingly, we have no desire whatsoever to comment further."
On Wednesday, Samsung first denied the rumor that they have offered Blackberry a buyout.
Reuters has reported that Samsung had talks with the Canadian company offering its $7.5 billion in exchange of an access to their patent portfolio. Reuters, despite Blackberry's denial, stood by their previous report further revealing that both companies' executives met a week prior to talk about a potential business transaction.
Meanwhile, the Canadian paper Globe And Mail revealed that Blackberry has turned down several takeover offers in the recent months. According to the report, Blackberry's refusal of the offers is attributed to the fact that the company's largest investor and board members think that their restructuring plan will result in a better shareholder value than all acquisition offers.
The Blackberry shares have closed at $12.59- the highest value since June of 2013. This stock price was able to provide the company a reason to rejoice as this was the best in the recent 11 years.
Samsung's strength of retaining the globe's No. 1 in manufacturing smartphones has been established on the fact that it provides the market with a wide range of electronic devices. With a plan of Blackberry takeover, Samsung envisions a wider gateway towards the corporate market where rivals are collectively pulling it down.
