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Wednesday, Aug 28
BlackBerry jumps on fresh Lenovo rumors
- Rumors Lenovo (LNVGY.PK) will make a $17/share bid for BlackBerry (BBRY +5.3%) are fueling a rally in the latter company's shares.
- BlackBerry shares have already soared more than once this year on Lenovo speculation (I, II) that didn't pan out. But that was before the company began formally evaluating "strategic alternatives" widely believed to include a sale.
- The fact Lenovo's market cap only stands at $10B means acquiring BlackBerry in full wouldn't be easy, should the Chinese PC/smartphone giant be interested.