Deals
BlackBerry, Samsung Deny They’re in Talks About a Deal
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BlackBerry Ltd. tumbled today after the Canadian smartphone maker and Samsung Electronics Co. denied a report they are in talks about a deal.
After surging yesterday, BlackBerry shares fell 20 percent to $10.11 at the close in New York. The stock is still a bit higher than its closing price on Jan. 13, before Reuters reported that Samsung approached BlackBerry with an initial takeover offer of $13.35 to $15.49 a share, citing an unnamed person and documents. Reuters also said executives from the companies met last week to discuss a transaction, which would value BlackBerry at as much as $7.5 billion.