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Agencies 4 Growth Festival Logo

BlackBerry shares bloat on Samsung Electronics $7.5bn takeover rumour

Samsung Electronics has tabled an offer of $7.5bn for BlackBerry Ltd in a bid to acquire the wireless and smartphone company's patents to step up its competition against Apple.

Reuters cites a source close to the companies who said the South Korean electronics giant proposed to buy out the Canadian firm for as much as $15.49 per share.

A meeting between two company executives allegedly took place on Wednesday with Samsung offering anywhere between 38 and 60 per cent above the Canadian firm’s current share price.

Despite BlackBerry issuing a statement claiming it "has not engaged in discussions with Samsung with respect to any possible offer to purchase BlackBerry,” upon the news breaking shares rose by thirty per cent.

The firms already share a bond after entering a smartphone security partnership in November aimed at bolstering the South Korean firm’s Android encryption.

While the talks were allegedly taking place, on social media the BlackBerry social team made a gaffe, getting caught promoting the BlackBerry classic’s Twitter-friendly keyboard – from an iPhone.

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