Samsung wants Blackberry.
Wow. Take a look at a one day chart - today's. Classic last half hour.
NEW YORK (Reuters) - Smartphone company Samsung has recently approached BlackBerry Ltd to buy the company for as much as $7.5 billion, looking to gain access to its patent portfolio, according to a person familiar with the matter and documents seen by Reuters.
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.
Executives from the two companies, which are working with advisers, met last week to discuss a potential transaction, the source said, asking not to be identified because the conversations are private.
Representatives for BlackBerry declined to comment while Samsung could not be immediately reached for comment.