Research In Motion (RIMM) +7.2% AH after Reuters reports the company turned down takeover...

Research In Motion (RIMM) +7.2% AH after Reuters reports the company turned down takeover overtures from Amazon (AMZN) and other potential buyers because it prefers to fix its problems on its own. Amazon reportedly hired an investment bank this summer to review a potential merger with RIM, but it didn't make a formal offer.

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Comments (5)
  • Zanby
    , contributor
    Comments (156) | Send Message
    Frankly, I could never understand RIMM? I did trade in it in the past, made some money but I wish I had shorted it!


    Now, what does this tell you though?


    It tells me that Amazon is eager to beat AAPL in the phone business!


    Jeff Bezos is a smart and relentless cookie but I have great doubts that a retailer can beat a software company in the software business?
    20 Dec 2011, 10:19 PM Reply Like
  • bkpark
    , contributor
    Comments (331) | Send Message
    Apple isn't a software company; it's always been a hardware company who wrote its own software.


    Anyways. That's probably why Jeff Bezos wanted to buy RIM rather than build the operation from ground up. Also, any connection between this and Kindle Fire's similarity to RIM PlayBook? Original story was that both were made by the same ODM, explaining the design similarities, but maybe the background story goes deeper.
    20 Dec 2011, 10:23 PM Reply Like
  • TSBA
    , contributor
    Comments (2) | Send Message
    AMZN was so lucky that RIM didn't agree to be acquired. It's far better for AMZN to build from ground up, than to buy a company with a obsoleted technology. Remember AOL deal, when Internet started going mainstream.
    21 Dec 2011, 03:51 AM Reply Like
  • traderchats
    , contributor
    Comments (25) | Send Message
    Is this going to be negative for AMZN share price when market opens on Wednesday?
    21 Dec 2011, 04:30 AM Reply Like
  • Tru Skeptik
    , contributor
    Comments (2) | Send Message
    If someone wants to buy your buggy whip company I would recommend selling it to them. Management at RIMM apparently has no historical perspective on this thing. Absolutely stupid not to at least negotiate something, if only to drive up the share price temporarily. Breach of fiduciary duty is possible here. Sign me up for the class action.
    21 Dec 2011, 07:44 AM Reply Like
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