Wednesday, December 21, 2011

RIM Gains After Reports Say It May Have Been Takeover Target - Businessweek

Cue the shareholder lawsuits…

Research In Motion Ltd. advanced 11 percent in late trading after news reports said Microsoft Corp. and Nokia Oyj mulled a joint bid, while Amazon.com Inc. considered buying the maker of the BlackBerry smartphone.

RIM “turned down takeover overtures” from Amazon because it wanted to fix its shortcomings independently, Reuters reported. That was followed by a Wall Street Journal article that said Microsoft and Nokia “flirted with the idea of making a joint bid” in recent months. Both cited unidentified people familiar with the matters.

RIM Gains After Reports Say It May Have Been Takeover Target - Businessweek

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