Despite Last Week's Denials, Samsung Still Eyeing Blackberry Purchase
If you want to boggle your brain, try figuring out if BlackBerry is up for sale, and if so, whether or not Samsung is a potential suitor. Be warned, coming to a conclusion requires navigating a field of 'he said, she said, they said, my mother's uncle's best friend's neighbor said', only to arrive in a field of denials. But for what it's worth, there is evidence to suggest that Samsung is indeed pursuing BlackBerry in a buyout.
The rumor first popped up a week ago in which it was reported that Samsung was in talks to acquire the struggling Canadian company for $7.5 billion. BlackBerry denied the rumor, as did Samsung, though perhaps they should have kept mum about the whole thing -- BlackBerry's share price shot up by about 30 percent after the rumor made the rounds. Instead, the company issued a statement to the contrary.
"BlackBerry is aware of certain press reports published today with respect to a possible offer by Samsung to purchase BlackBerry. BlackBerry has not engaged in discussions with Samsung with respect to any possible offer to purchase BlackBerry. BlackBerry’s policy is not to comment on rumors or speculation, and accordingly it does not intend to comment further," said the company last week.
Maybe so, maybe not. The Financial Post today claims to have obtained a document that was prepared for Samsung by Evercore Partners, an independent investment bank in New York. The document reportedly makes a case for purchasing BlackBerry, as well as outlines a potential structure of a possible purchase.
The document was prepared sometime in the fourth quarter of 2014, though a source apparently told the news organization that Samsung is still very interested in either buying BlackBerry outright, or investing a stake in the company, provided the price is appealing.
"I can tell you Samsung is contemplating a purchase," the source reportedly said. "It's still being pursued right now. Samsung is still evaluating their options. So it's still very much an open deal."
BlackBerry's stock is up over 8 percent today due to new speculation that Samsung is still interested in a buyout. At the time of this writing, BlackBerry stock is trading at $10.81 per share, giving the company a market capitalization of $5.68 billion.