RIM (RIMM) Higher as Lenovo Shows Buying Interest
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Shares of Research in Motion (Nasdaq: RIMM) moved higher on Thursday after Lenovo Group CFO said the company was eying RIM as a potential takeover target or strategic partner.
Speaking at the World Economic Forum meeting in Davos, CFO Wong Wai Ming told Bloomberg, "We are looking at all opportunities -- RIM and many others. We’ll have no hesitation if the right opportunity comes along that could benefit us and shareholders."
With shares of RIM lower by 72 percent in the last 24 months, in a sense opportunity may be knocking on Lenovo's door. RIM, of course, has already considered strategic options, so they would likely be open to a potential bid from the PC maker, especially if the company's highly anticipated BlackBerry 10 launch next week fails to spark enthusiasm.
Wong said the company has already spoken to RIM and its bankers about various combinations or strategic ventures, but declined to comment on timing of a potential takeover. In any case, if the rumors pan-out, a bid would likely be post-BB10, and it is unknown how this might positively or negatively affect negotiations. A combination may also raise concerns by Canadian and international regulators.
Speaking at the World Economic Forum meeting in Davos, CFO Wong Wai Ming told Bloomberg, "We are looking at all opportunities -- RIM and many others. We’ll have no hesitation if the right opportunity comes along that could benefit us and shareholders."
With shares of RIM lower by 72 percent in the last 24 months, in a sense opportunity may be knocking on Lenovo's door. RIM, of course, has already considered strategic options, so they would likely be open to a potential bid from the PC maker, especially if the company's highly anticipated BlackBerry 10 launch next week fails to spark enthusiasm.
Wong said the company has already spoken to RIM and its bankers about various combinations or strategic ventures, but declined to comment on timing of a potential takeover. In any case, if the rumors pan-out, a bid would likely be post-BB10, and it is unknown how this might positively or negatively affect negotiations. A combination may also raise concerns by Canadian and international regulators.
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