BlackBerry Ltd (NASDAQ:BBRY) stock has jumped by 8.5% after the rumors, which suggest that Lenovo might be interested to take over the phone maker very soon. In a program on Fox Business, Nicole Petallides reported this stock surge of BlackBerry Ltd (NASDAQ:BBRY) and said that this is not the first time that news are suggesting about a possible takeover of Blackberry by Lenovo.
Lenovo took over the dying tablet business from IBM and turned that into a complete industry. Similarly, Blackberry can also be pulled out from its periodic plunges by Lenovo. BlackBerry Ltd (NASDAQ:BBRY) recently rolled out its much awaited Passport phone. Although the phone broke some sales records, it couldn’t bring the company into the much needed limelight.
Lenovo has given numerous hints in the past about the possible acquisition of BlackBerry Ltd (NASDAQ:BBRY). Last week, Lenovo announced that the company is considering to open a separate internet based smartphone business. The new sector will be under different name. In January 2013, Lenovo’s CFO claimed that Lenovo is looking forward to acquire the Canadian phone maker. But BlackBerry Ltd (NASDAQ:BBRY) is always prompt to deny such rumors.
BlackBerry Ltd (NASDAQ:BBRY)’s phone business is tumbling and sales are suffering. If the Chinese computer giant takes over BlackBerry Ltd (NASDAQ:BBRY), both companies can imbibe new opportunities in the marker space. A source has claimed that a deal between BlackBerry Ltd (NASDAQ:BBRY) and Lenovo will soon be signed. BlackBerry Ltd (NASDAQ:BBRY) offered $15 per share initially, but the deal is settled now at $18 per share, the source claims.
The latest stock surge for Blackberry and a possible takeover is a good news for BlackBerry Ltd (NASDAQ:BBRY) investors, who have suffered consistent bad quarters from the company so far.
Prem Watsa’s Fairfax Financial Holdings reported owning about 46.65 million shares in BlackBerry Ltd (NASDAQ:BBRY).
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