Apple will introduce new versions of iOS and OS X at its annual developer's conference.
Samsung in Talks to Buy BlackBerry for $7.5 Billion [Updated]
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.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.
BlackBerry has struggled with flagging sales in recent years, and in 2013, the company received a takeover bid worth $4.7 billion from Fairfax Financial, but the deal ultimately fell apart. BlackBerry went on to receive interest from both Apple and Microsoft, among others, but was uninterested in breaking up the company to sell it piecemeal.
Ultimately, the company accepted investments and aimed to re-establish itself in the smartphone market, which led to the launch of the Passport, a large square-shaped phone, and the Classic, a throwback to original BlackBerry designs.
BlackBerry holds quite a few valuable patents, which are estimated to be worth $1 billion to $3 billion. In 2012 alone, its patent portfolio grew by 986 patents, many of which are relevant to competing smartphone companies like Samsung.
Update 2:40 PM PT: BlackBerry has issued a press release claiming that it has not communicated with Samsung about a possible purchase.
BlackBerry Limited (NASDAQ:BBRY)(TSX:BB) ("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.