real-time news and commentary for investors
Tuesday, Aug 13
BlackBerry keeps soaring; company reportedly wants "Google-like" buyer
- BlackBerry (BBRY +9%) is now up 27% since Reuters first reported the company is thinking of going private. The company's enterprise value (excludes $3.1B in cash/investments) has grown to $3B.
- While Prem Watsa reportedly talks to both P-E firms and "industry players" about a deal, the NY Post reports BlackBerry would prefer to be acquired by a "Google-like" buyer rather than a P-E firm. One source speculates Amazon (AMZN - believed to be interested back in 2011, and possibly able to leverage BlackBerry's NOCs to bolster AWS) could be an option.
- AllThingsD reports Silver Lake "has no interest in working with Watsa or BlackBerry" on a bid.
- Another upgrade has come in: Scotia Capital has lifted shares to Outperform.
- More on BlackBerry