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Samsung still looking into BlackBerry acquisition

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Last updated: January 22nd, 2015 at 09:36 UTC+01:00

A few days back it was rumored that Samsung wants to acquire BlackBerry for $7.5 billion. Soon after the report went out BlackBerry’s shares surged 29 percent but both companies were quick to deny that they were even having talks on this matter. However, it looks like there’s more to this story than meets the eye. Canada’s Financial Post has obtained a document prepared for Samsung which shows that the company is still exploring options with regards to BlackBerry.

The document was prepared by Evercore Partners, an investment bank based in New York, in the last quarter of 2014 for Samsung and it makes the case for a purchase of BlackBerry. A source tells the scribe that Samsung is still interested in either acquiring BlackBerry or purchasing a substantial stake in the company for the right price.

Top executives from both Samsung and BlackBerry denied the acquisition report. J.K. Shin, Samsung co-CEO, said recently that while the company wants to use BlackBerry technology in future devices they’re not interested in an acquisition right now.

BlackBerry denied the report as well and pointed out that the board expresses full confidence in the leadership of CEO John Chen and believes that the company will be able to create more value for shareholders working independently in the market particularly after the turnaround efforts that have placed it on a growth trajectory once again.

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