Microsoft mentioned in $7 billion acquisition of BlackBerry
A few days ago, we told you how four telecoms companies were mentioned as suitors in the brewing buyout of Canadian phone maker BlackBerry, who is currently on the road of improvement after so many years of financially bleeding red ink and loss of market share. Microsoft, the 2014 acquirer of Nokia Devices & Services, is reportedly knee deep in agreements of buying BB.
The Redmond, Washington PC giant is expected to make an offer for BlackBerry — whose stock worth $10.48 at the end of Friday last week. With the information on ground, we learnt that Microsoft will submit a $7 billion bid for the Canadian outfit on Monday (today).
If the prices remain like this, Microsoft will be buying BB (formerly RIM) at 126% of the company’s actual worth ($13.23 vs $10.48 per share). We’ll be keeping you up to date as all the events unfold.