Samsung says it is not interested in RIM; latter's stock falls after-hours

Samsung says it is not interested in RIM; latter's stock falls after-hours
Speculation that RIM was trying to sell itself to Samsung helped push the stock up more than 8% on Tuesday. As we reported, the Canadian based manufacturer was said to be seeking a 50% to 90% premium over its current market cap of $8.5 billion. But once the bell sounded and Wall Street brokers trudged home, Samsung released a statement that knocked the stock down more than 5% after hours. A spokesman for the Korean based Samsung, James Chung, said that "We haven't considered acquiring the firm and are not interested in (buying RIM)."  Additionally, Chung said that RIM had not contacted the company about a deal.

Of course, just because Samsung doesn't appear to be interested doesn't mean that another company is not interested in RIM. Earlier reports included HTC as a company that might be interested in licensing BlackBerry 10 from RIM. The latter has high hopes for a new line of smartphones to be powered by the OS and a recently discovered roadmap calls for a September launch of the first smartphone to run on BlackBerry 10.

The initial reports of a deal for RIM came from a source for BGR that said that
RIM co-chief executive Jim Balsillie had been meeting with other companies interested in licensing the OS or buying the company. But even with a 90% premium, the price of a deal would be less than half of the 52 week high for RIM's stock.

source: Reuters

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11 Comments

1. Johnny_Mnemonic

Posts: 240; Member since: Oct 05, 2011

Who ever buys RIM it's making a wise choice

4. Synack

Posts: 688; Member since: Jul 05, 2011

How do you figure? I dare anyone to revive that from the dead.

5. remixfa

Posts: 14605; Member since: Dec 19, 2008

i could. ive laid out basic plans for a 12-18 month revival to get RIM back in the game a half dozen times. The plan starts with firing those to bozos and gets better from there. :)

2. BattleBrat

Posts: 1476; Member since: Oct 26, 2011

I'm interested in BB 10, I'd like to see it in action...

3. snowgator

Posts: 3621; Member since: Jan 19, 2011

Hey- BGR- you were wrong again. Time to find some other secret, nameless source. Why does anyone even read that site????

6. remixfa

Posts: 14605; Member since: Dec 19, 2008

this could be like when it was reported that the SGS1 was not going to get the ICS update... then samsung said it was looking into it.. then it said it was getting some ICS'ish stuff.. then it went back to saying no... except in reverse maybe? :)

7. MorePhonesThanNeeded

Posts: 645; Member since: Oct 23, 2011

Google needs to get RIM software, and add the rest of RIM to Motorola's house and just use the OS to help to free up android from all this litigation happy people and also get MS out of vendors pockets. This would make Googles partners very happy to not have to pay MS a piece for every damn phone they make using android. Also would squarely put a foot in the sack of Apple and it's iOS. Giving google the option of changing RIM software and using the inroad they found in android and applying it to tech that they fully own and don't have to defend constantly from everyone wanting a piece of the action.

8. Mr.Mr.Upgrade

Posts: 474; Member since: Aug 30, 2011

What a joke rim needs to jump off a cliff

9. Droid_X_Doug

Posts: 5993; Member since: Dec 22, 2010

Why Sammy would have wanted to buy RIM is beyond me. The co-Bozos were holding out for a premium above market that was delusional. Of course they are living in pure delusion, so why am I surprised? (Dunno) Things are back on track for a continuing downward spiral where RIM gets sold at auction for pennys on the dollar.

11. ardent1

Posts: 2000; Member since: Apr 16, 2011

> Why Sammy would have wanted to buy RIM is beyond me. The rest of us understand Sammy would buy RIM solely for RIM's patents and then shut down their BB line.

10. Bluesky02

Posts: 1439; Member since: Dec 05, 2011

As a new competitor Amazon would be suitable. More competition more benefits to consumers.

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