Fri, Jul. 24, 4:07 AM
- With the possibility of a Qualcomm (NASDAQ:QCOM) split afloat, an interesting piece of analysis has surfaced on Wall Street, pointing towards Intel (NASDAQ:INTC) as the best possible beau if the firm decides to break itself up.
- "The chip deal to end all chip deals," said Cowen analyst Timothy Arcuri.
- Other suitors for Qualcomm's chip business, valued at $30B-$40B, could include a consortium backed by the Chinese government and Samsung Electronics (OTC:SSNLF).
Wed, Jul. 1, 3:24 AM
- A South Korean court has rejected an appeal from activist fund Elliott Associates to block the merger of two Samsung group companies - Cheil Industries and Samsung C&T - saying that the proposed deal did not represent an illegal transfer of value to investors.
- The deal would allow the heirs of patriarch Lee Kun-hee, who remains hospitalized since a May 2014 heart attack, to consolidate stakes in affiliates like smartphone maker Samsung Electronics (OTC:SSNLF) and keep control of the Samsung group.
- Elliott, which has a 7.1% stake in Samsung C&T, argued the merger should be ruled invalid because it undervalued the company.
Tue, May 26, 3:49 AM
- Samsung Group has announced the merger of two major affiliates, as it reconstructs itself to smooth the path for management succession within the founding Lee family.
- The all stock deal, approved by the boards of both firms, would see Samsung's de facto holding company Cheil Industries acquire building firm Samsung C&T (which has a key stake in Samsung Electronics (OTC:SSNLF)) for 8.9T won ($8.1B).
Tue, Feb. 17, 4:08 AM
- "Dividends and other forms of shareholder returns are responsibilities that the company has for shareholders, so we will make efforts to meet them. But our primary objective is growth," said Robert Yi, Samsung Electronics' (OTC:SSNLF) head of investor relations.
- While investors were cheered this year by Samsung's 40% dividend boost and its first share buyback since 2007, the tech giant is looking to use its $56B cash pile to fund growth in 2015, including acquisitions.
Fri, Feb. 6, 2:04 AM
- The SEC and the Ontario Securities Commission are investigating whether a recent Reuters report about a possible $7.5B purchase of BlackBerry (NASDAQ:BBRY) by Samsung Electronics (OTC:SSNLF) was sparked by investor intent on pumping the Canadian smartphone maker’s stock.
- BlackBerry shares, which closed on Jan. 13 at $9.71, shot up 30% on the news to close at $12.60 on Jan. 14, its biggest one-day gain in years.
- Shortly after the rumor, both companies denied holding talks for such a deal.
- Previously: BlackBerry denies talking with Samsung about buyout offer (updated) (Jan. 14 2015)
- Previously: More on BlackBerry/Samsung (updated) (Jan. 14 2015)
- Previously: BlackBerry +20.9%; Samsung reportedly approached about takeover (Jan. 14 2015)
Wed, Jan. 21, 7:29 PM
- Though both companies have issued statements denying M&A talks, Samsung (OTC:SSNLF) is "actively pursuing a plan to take over or buy a significant stake in BlackBerry (NASDAQ:BBRY)," Canada's Financial Post reports.
- The paper has obtained a document prepped for Samsung by i-bank Evercore that "outlines the case for, and the potential structure of a possible purchase of BlackBerry." Though the doc was created in Q4 2014, a source says Samsung remains interested. “I can tell you Samsung is contemplating a purchase. It’s still being pursued right now. Samsung is still evaluating their options."
- BlackBerry soared a week ago after Reuters reported Samsung had proposed buying the company for a price between $13.35-$15.49/share. Shares quickly gave back most of their gains after BlackBerry denied having talked with Samsung about a buyout offer. Samsung later provided its own denial.
- BlackBerry has jumped in AH trading to $10.65.
Wed, Jan. 14, 5:38 PM
- In response to Reuters' report, BlackBerry (NASDAQ:BBRY) says it "has not engaged in discussions with Samsung (OTC:SSNLF) with respect to any possible offer to purchase BlackBerry."
- BBRY -11.2% AH. Shares are still up 15% from yesterday's close.
- Update: The Globe and Mail reports BlackBerry has "shunned a handful of takeover overtures in recent months as its board of directors and largest investor continues to support a restructuring strategy that they expect will deliver greater shareholder value than current acquisition offers."
Wed, Jan. 14, 4:14 PM
- Samsung (OTC:SSNLF) proposed acquiring BlackBerry (BBRY +29.8%) for a price between $13.35-$15.49/share, according to a Reuters source. BlackBerry closed yesterday at $9.71, and has closed today at $12.60. Shares are up another 3.2% AH to $13.02.
- According to documents, Samsung's proposed acquisition range implies an enterprise value of $6B-$7.5B, after factoring $1.25B in convertible debt. Execs from both companies reportedly met last week.
- Reuters states Samsung is interested in BlackBerry's patent portfolio. BlackBerry could also mesh with Samsung's efforts to grow its enterprise presence, strengthen its embedded/IoT offerings, and (though this is easier said than done) lower its Google dependence. The companies announced a BES12-focused enterprise partnership in November.
- Previously: Samsung reportedly approached BlackBerry about acquisition
- Update: BlackBerry denies having talked with Samsung about a buyout offer.
Wed, Jan. 14, 3:50 PM
Sep. 2, 2014, 6:55 AM
- In yet another round of Samsung restructuring, Samsung Electronics (OTC:SSNLF, OTC:SSNGY) says it will consider acquiring the shares of unlisted medical equipment maker Samsung Medison that it does not currently own.
- Samsung Electronics currently holds a 68.5% stake in Samsung Medison, which has a book value of about 478B won ($472M).
- Samsung's restructuring has accelerated since the May hospitalization of the group's chairman Lee Kun-hee, and has sparked investor speculation to the group's succession.
Aug. 19, 2014, 5:59 AM
- Drifting again toward the "Internet of Things", Samsung (OTC:SSNLF, OTC:SSNGY) has purchased U.S. air conditioner distributor Quietside.
- The acquisition is aimed at strengthening the company's "smart home" business, which enables users to control multiple household appliances from a mobile device.
- Last week, Samsung snapped up SmartThings, a developer of home automation hardware/software platforms.
Aug. 14, 2014, 7:16 PM
- Samsung (OTC:SSNLF, OTC:SSNGY) has acquired SmartThings, developer of a home automation hardware/software platform. Re/code reports the purchase price is $200M.
- SmartThings' platform relies on kits featuring a router and small sensors that attach to various home items. Once installed, users can monitor, control, and customize connected devices using mobile apps.
- The acquisition follows Google's purchases of smart thermostat/smoke detector vendor Nest and Wi-Fi monitoring camera maker Dropcam, and the launch of Apple's HomeKit platform, which aims to let 3rd-party home devices be controlled with iOS hardware.
- SmartThings is looking to differentiate itself by creating an open platform for 3rd-party apps/services - founder/CEO Alex Hawkinson claims SmartThings supports 1K+ devices and 8K+ apps. Control4 (NASDAQ:CTRL), whose shares took off after the Google/Nest deal was announced, is among SmartThings' rivals.
Jan. 31, 2014, 7:20 PM
- After taking in Google's (GOOG) Q4 numbers, FBR estimates handing off Motorola Mobility to Lenovo (LNVGY) could boost the Web giant's op. margin by as much as 500 bps. Whereas Google proper has an op. margin of 34%, Motorola's losses dragged down the company's total op. margin to 29%.
- TechCrunch reports that with Motorola gone, newly-acquired Nest will serve as Google's primary hardware team. Nest, founded by iPod "godfather" Tony Fadell, will reportedly develop gadgets very different from the smart thermostats/smoke alarms it's known for.
- Many observers think the Lenovo sale is at least partly tied to Google's recent deals with Samsung (SSNLF). The reasoning: Samsung's reported willingness to embrace a vision of Android closer to Google's (toning down support for custom apps/UIs, and promoting Google apps/services) is linked to Google's decision to sell its mobile hardware unit.
- It's possible Google also gave Samsung favorable terms in their recent cross-licensing deal. In terms of patent portfolio/breadth, Google held the upper hand.
- In addition to keeping most of Motorola's patents, Google is holding onto the company's Advanced Technology unit, which is responsible for the Project Ara modular phone initiative.
- Lenovo says it will keep the Motorola brand in the U.S., and that it aims to eventually pass Apple and Samsung to be the world's largest smartphone vendor.
- Previous: Google earnings coverage
Jan. 29, 2014, 5:25 PM
- Just an hour after reports emerged Google (GOOG) is set to sell Motorola's phone ops to Lenovo (LNVGY), the deal has been announced by Larry Page. Lenovo will pay $2.91B for the struggling, loss-generating smartphone maker; Google will retain the "vast majority" of its patents.
- Page explains the deal by stating the smartphone market is "super competitive," and that "it helps to be all-in." He promises the sale doesn't have broader implications for Google's hardware efforts.
- Google paid $12.5B for Motorola Mobility in 2011. After backing out the Lenovo sale, the Arris sale, and $3.5B in cash, Google effectively paid ~$3.7B for Motorola's patents, assuming one doesn't count the losses the phone unit has produced under Google's control.
- The sale expands Lenovo's U.S. presence, and gives it access to Motorola's respected hardware engineering teams as it tries to grab high-end Android share from market leader Samsung (SSNLF). IDC estimates Lenovo had a 4.9% smartphone share in Q4 (up from 4.1% a year ago).
- The deal also removes a point of friction between Google and its Android partners. It shortly follows a report stating Google has pressured Samsung to tone down its Android UI changes and more strongly emphasize Google's apps/services, as it tries to exert greater control over Android's look and feel.
- GOOG +2.2% AH. In addition to the Motorola deal, shares could be getting a lift from Facebook's Q4 beat.
Oct. 11, 2013, 5:14 AM
- The CEO of Fingerprint Cards, a Swedish provider of fingerprint verification technology, has denied reports that it has agreed to be acquired by Samsung (SSNLF.PK, SSNGY.OB) for $650M.
- Earlier today, information distributor Cision published a press release announcing the deal, but Fingerprint's Johan Carlstrom said the release was false. He also said the company has held no talks with the Korean giant.
Oct. 9, 2013, 6:50 PM
- Bloomberg reports BlackBerry (BBRY) is "more open to a breakup" as doubts continue to swirl Fairfax Financial will be able to obtain the funding needed for its $9/share bid to succeed.
- The news service adds SAP, Cisco (CSCO), and Samsung (SSNLF.PK, SSNGY.OB) were "approached last week by BlackBerry advisers," and indicated they’re "only interested in parts of the company." That provides a bit of color to Saturday's Reuters report.
- Intel (INTC) is said to be open to bidding for BlackBerry's patents, but nothing else.
- BBRY -1.4% AH
- Earlier: Canadian pension fund still weighing BlackBerry investment
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