BlackBerry (TSX: BB) (NASDAQ: BBRY) denied earlier reports it was in talks with smartphone-maker Samsung about a potential takeover. The stock tumbled 16% in early Thursday trading in New York on those denials.
Later Wednesday, Samsung also denied making a takeover offer.
BlackBerry ended the session about 30% higher a Reuters report that Samsung had offered to buy the Canadian mobile company for as much as $7.5 billion U.S., in hopes of gaining access to its patent portfolio, according to a person familiar with the matter and documents seen by Reuters.
Reuters stood by its previous report and said executives from both companies met last week to discuss a potential transaction.
Separately on Wednesday, the Globe and Mail reported BlackBerry has shunned a handful of takeover overtures in recent months as its board and largest investor think its restructuring strategy will deliver greater shareholder value than current acquisition offers.
In New York, the company once known as Research In Motion fell in price $2.02 to $10.58 U.S., while in Toronto, the stock capsized $2.44, or 16.3% to $12.58, within a 52-week trading range of $7.69 to $15.10.
