Reuters reported on Wednesday that Samsung had “approached” BlackBerry about a potential takeover for as much as $7.5 billion. While a surprise, it wasn’t the most outlandish rumor: Both Samsung and BlackBerry are companies with big mobile divisions and significant interest in the burgeoning internet of things.
BlackBerry’s stock, naturally, spiked on the news, only to fall back a few hours later when [company]BlackBerry[/company] publicly denied the rumors in a press release: “BlackBerry has not engaged in discussions with Samsung with respect to any possible offer to purchase BlackBerry.”
BlackBerry’s stock shot up nearly 30 percent to $12.81 at one point this afternoon, but it had fallen to $11.49 in after-hours trading at the time of publication. The Reuters report said [company]Samsung[/company] was looking to purchase BlackBerry at a price range of $13.35 to $15.49 per share.