Amazon, Microsoft, Nokia Have Mulled Deal for Blackberry Maker (Report)
News of the recent deal talks boosted shares of Research In Motion.
Shares of ailing Blackberry maker Research In Motion rose Wednesday amid reports that the company has been eyed as a takeover target. Bloomberg News said the stock had its biggest gain in 10 weeks.
Microsoft and Nokia have in recent months looked at a possible joint bid for RIM, the Wall Street Journal reported.
Meanwhile, the company turned down takeover overtures’ from Amazon.com because it wanted to fix its challenges on its own, Reuters reported.
The Journal said that the talks between the tech giants underscore the magnitude of the challenges facing RIM, whose market share and stock have been on the decline amid competition from Apple's iPhones and Android devices.
The status of the talks remains unclear, the Journal said.
After disappointing third-quarter results last week, RIM shares have hit multi-year lows, with investors and analysts once again calling for a management shake-up or a sale of the firm. RIM's stock hit an eight-year low on Tuesday.
Co-CEOs Jim Balsillie and Mike Lazaridis last week told investors that they would explore a range of operational shifts, including new licensing opportunities and ways to better exploit the company's proprietary network.
But Balsillie has indicated that he wants to wait until the launch of RIM's new Blackberry next year before deciding whether to look for potential buyers, the Journal quoted people familiar with the situation as saying.
Spokespeople for Microsoft and Nokia declined to comment. A RIM spokeswoman told the Journal that the company doesn't comment on "rumors and speculation."