Report: Samsung makes $US7.5 billion buyout bid for BlackBerry

The Reuters story sent Blackberry shares soaring

Mobile giant Samsung Electronics reportedly approached rival BlackBerry with a buyout proposal worth as much as $US7.5 billion, according to a Reuters news report.

Samsung offered BlackBerry a buyout price of between $US13.35 to $US15.49 per share, according to the news agency, which cited documents and an unnamed person with knowledge of the matter.

Samsung is reportedly also interested in acquiring BlackBerry's patent portfolio.

BlackBerry stock skyrocketed almost 30 per cent after the news broke, closing at $US12.60 on the Nasdaq.

Samsung's acquisition of BlackBerry could give it a more prominent presence in developing markets, where older BlackBerry models are still selling well. Samsung's earnings also took a hit in the latter part of 2014.

Agam Shah covers PCs, tablets, servers, chips and semiconductors for IDG News Service. Follow Agam on Twitter at @agamsh. Agam's e-mail address is agam_shah@idg.com

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Tags Mergers and acquisitionsBlackberrybusiness issuesSamsung Electronics

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Agam Shah

IDG News Service
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