You Didn't Believe This Mobile Buyout Rumor, Did You?
As quickly as it began, this buyout rumor was promptly shut down.
In continuation of the recent history that Research In Motion (NAS: RIMM) rallies only when there is speculation that a larger competitor will acquire the BlackBerry maker, yesterday saw one of those days. Shares had spiked midday on reports that the company was looking to sell itself to South Korean electronics conglomerate Samsung, sending shares up as much as 11% throughout the day.
The speculation wheel has recently landed on household names like Amazon.com (NAS: AMZN) or Microsoft (NAS: MSFT) and Nokia (NYS: NOK) jointly, none of which should have a justifiable interest in picking up RIM. Amazon is already building an Android ecosystem, and Microkia is still in the honeymoon phase.
The only believable part of the report was that RIM co-CEO and co-Chairman Jim Balsillie was actively meeting with any company that would hear him out with his company-wide-fire-sale pitch, along with the possibility of licensing out its OS.
BGR had said that RIM was "leaning toward an outright sale of one or more divisions, or even the whole company," with Sammy as the top candidate suitor. The argument was that one of RIM's strengths, its BlackBerry Messenger (BBM), would give Sammy a leg up against other Google (NAS: GOOG) Android counterparts. Integrating BBM along with some of RIM's other enterprise offerings could set it apart from other Android makers.
Within hours, Samsung jumped in front of this gossip, shoved it down, poured cold water on it, and gave it a couple of kicks to the jugular. Samsung spokesman James Chung told Reuters, "We haven't considered acquiring the firm and are not interest in (buying RIM)." Chung even squashed the single credible aspect, saying Samsung hadn't even been approached by RIM for a takeover.
That last part could easily be PR fluff, since it's entirely within reason that the Canadian company has tried shopping itself around behind closed doors. Who do you think the speculation wheel will land on next? Share your thoughts in the comments box below.
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