- "A source familiar with the matter" tells Benzinga Lenovo (OTCPK:LNVGY) could make an offer to acquire BlackBerry (BBRY) as soon as this week.
- Before BlackBerry named John Chen CEO and stopped looking for a buyer last November, Lenovo was reported to be weighing a bid for all or parts of the company. The Canadian government responded by saying it would scrutinize the national security impact of any offer. Since then, Lenovo has agreed to pay $2.91B to acquire Motorola Mobility from Google.
- Short-covering could be driving today's gains: 19% of BlackBerry's float was shorted as of Sep. 30.