RIM (RIMM) Turned Away Overtures from Amazon (AMZN), Others - Report
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Shares of beaten-up smartphone maker Research In Motion (Nasdaq: RIMM) are rocketing higher after hours Tuesday following reports the company turned down takeover offers from Amazon.com (Nasdaq: AMZN) and others.
Reuters reported late Tuesday afternoon Amazon hired bankers this summer to review a potential takeover, but did not make a formal offer. The report said it was not clear if informal discussions ever led to a specific price for the BlackBerry maker.
RIM turned down the overtures from Amazon and other potential buyers; instead deciding to fix its own problems...
The company's co-CEO's have spent months reviewing potential strategic options, but now these discussions are viewed as distracting for management.
Shares of RIM last traded at $13.29, up 6 percent from Tuesday's close.
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Reuters reported late Tuesday afternoon Amazon hired bankers this summer to review a potential takeover, but did not make a formal offer. The report said it was not clear if informal discussions ever led to a specific price for the BlackBerry maker.
RIM turned down the overtures from Amazon and other potential buyers; instead deciding to fix its own problems...
The company's co-CEO's have spent months reviewing potential strategic options, but now these discussions are viewed as distracting for management.
Shares of RIM last traded at $13.29, up 6 percent from Tuesday's close.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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