UPDATED: Hot off the press: Samsung has approached BlackBerry for acquisition of $7.5 billion

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Hot off the press is an exclusive from Reuters who reports that Samsung has approached BlackBerry for an acquisition for as much as $7.5 billion.

Shares skyrocketed in the last 10-15 minutes of the trading day as discussions between the two companies have said to have occurred sometime last week, with both parties declining to comment. Samsung is looking to purchase BlackBerry for it’s patent portfolio, which includes 40,000 patents. Samsung has offered between $13.35 and $15.49 per share, which gives BlackBerry shares a premium of 38 to 60 per cent of what the current trade price is ($9 ish). This puts BlackBerry’s Enterprise holdings and offerings worth up to $7 billion.

This is not the first time a rumor about a Samsung BlackBerry buyout, but this one just may have some legs, considering the source. What do you guys make of the news? Could this be the beginning of the end? Or the realisation that BlackBerry may just be worth more than $7 billion and skyrocket BBRY/BB.TO shares – the beginning to what the BBRY longs have longed yearned for. (I know I have!)

Source: Reuters

UPDATED: BlackBerry has denied being in talks with Samsung. 

Press Release:

Waterloo, ON – BlackBerry Limited (NASDAQ: BBRY; TSX: BB) (“BlackBerry”) is aware of certain press reports published today with respect to a possible offer by Samsung to purchase BlackBerry. BlackBerry has not engaged in discussions with Samsung with respect to any possible offer to purchase BlackBerry. BlackBerry’s policy is not to comment on rumors or speculation, and accordingly it does not intend to comment further.