Struggling Samsung makes takeover approach to beleaguered BlackBerry

”Samsung Electronics Co Ltd. recently approached BlackBerry Ltd. about buying the company for as much as $7.5 billion, looking to gain access to its patent portfolio, according to a person familiar with the matter and documents seen by Reuters,” Jennifer Ablan and Liana B. Baker report for Reuters.

“South Korea’s Samsung proposed an initial price range of $13.35 to $15.49 per share, which represents a premium of 38 percent to 60 percent over BlackBerry’s current trading price, the source said,” Ablan and Baker report. “Executives from the two companies, which are working with advisers, met last week to discuss a potential transaction, the source said, asking not to be identified because the conversations are private.”

Ablan and Baker report, “The offer price would imply an enterprise value of $6 billion to $7.5 billion for BlackBerry, assuming conversion of $1.25 billion of convertible debt, according to the documents.”

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Film maker. Video game historian. Will put more in here this section soon!
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