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Buyout Denial Routs BlackBerry Ltd (BBRY) Stock

BlackBerry Ltd (NASDAQ:BBRY) and Samsung Electronics denying that they are working on an acquisition deal has routed BlackBerry’s stock, Matt Miller, Joe Weisenthal and Julie Hyman discussed on Bloomberg’s In The Loop.

BlackBerry Ltd (NASDAQ:BBRY) went up as far as $12.59 per share this Wednesday’s close after news broke out that the company may be discussing with Samsung Electronics about a $7.5 billion acquisition, about a 40% premium on the company’s worth on Wednesday.

Matt Miller noted that the BlackBerry Ltd (NASDAQ:BBRY) rose about 30% after Reuters reported that Samsung Electronics was going to offer to buy BlackBerry. The company’s stock closed on Friday at about $10.23 per share.

BlackBerry, Samsung Electronics, is BBRY a good stock to buy, Matt Miller, Joe Weisenthal, Julie Hyman,

According to Joe Weisenthal, Reuters may not have gotten the story wrong as there have been a number of reports saying that BlackBerry is getting offers. He said the company’s denial is being characterized by some as too legalese, saying that they are not in talks right now but not denying that they were in talks in the past.

As for Julie Hyman, what interested her was the source Bloomberg had said that BlackBerry Ltd (NASDAQ:BBRY) gets offers all the time. However, this source also apparently said that BlackBerry shareholders would not possibly be interested in the rumored Samsung Electronics offer of $7.5 billion as it would be “low”.

She wondered, do BlackBerry shareholders really have the luxury of being choosy when it comes to tender offers?

The company is currently in a turnaround led by CEO John Chen and a number of experts are of the opinion that BlackBerry is about to perish. Those experts include Henry Blodget of Business Insider and Gary Vaynerchuk of Vaynermedia who both matter-of-factly stated that they think BlackBerry will be gone.

Prem Watsa’s Fairfax Financial Holdings held 46.65 million BlackBerry Ltd (NASDAQ:BBRY) shares by the end of September.

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