Samsung executives recently met with top brass at BlackBerry to discuss a possible acquisition, according to a report from Reuters on Wednesday afternoon.
The extent of the talks remains unclear, and it doesn’t appear there’s any final word on if it will actually happen, but it certainly made for some active late in the day trading. Shares of BlackBerry are up more than 29 percent on the news, as is often the case when a takeover is rumored, and it’s currently trading at about $12.60 per share.
BlackBerry has had some tough competition in recent years, and takeover talks are relatively common. The firm has said most recently, however, that it’s working to refocus its business on the enterprise under the stewardship of CEO John Chen, who has been tasked with turning the company’s fortunes around.
Reuters said Samsung is willing to pay anywhere between $13.35 and $15.49 per share for BlackBerry, which also explains why its share price is heading up in that direction. No word yet on whether or not this is going to come to fruition.