South Korea's Samsung Electronics Co Ltd said today that it had no plan to buy Canada's BlackBerry (BB) Ltd. The company also denied on a takeover approach.
“The report is "groundless" and the Korean company doesn't have a plan to purchase the Canadian company,” said Jini Park, Samsung Electronics spokeswoman.“BlackBerry has not engaged in discussions with Samsung with respect to any possible offer to purchase BlackBerry," the company said in a statement Wednesday.
Recently there were reports that Samsung Electronics offered to buy BlackBerry for as much as USD 7.5 billion. Samsung was interested in acquiring BlackBerry's patents, as well as strengthening its position in the enterprise market. Samsung proposed an offer of USD 13.35-15.49 per share, representing a premium of 38-60 percent over BlackBerry's current trading price. A week ago, both companies officials discussed the potential transaction, according to the report. As per the Canadian law, any foreign takeover would require approval from the Canadian government.