RIM rejects takeover offer from Amazon
Despite the fact that BlackBerry maker Research in Motion has been having a rotten time lately, they're not up for being taken over by anyone else.
Reports say that RIM turned down takeover offers from Amazon, while Microsoft and Nokia also weighed up bids for the struggling smartphone make.
One IM investor (who declined to be named to make this story all mysterious and sexily clandestine) said the company was now essentially up for sale.
"This story puts RIM in play, because shareholders are going to put it in play," the US-based investor said. "It's over. This is now a company where the activists are in charge."
After reports of a potential takeover leaked, shares jumped 10%. This is a big deal, seeing as RIM's market value has plunged 77% in the past 12 months. All this isn't helped by the fact that RIM are banking on the success of new devices winning everyone over, despite the fact they're going to be delayed 'til the end of 2012.
The Wall Street Journal reported that Microsoft and Nokia looked at the idea of a joint bid, and that senior executives from all three companies "frequently meet to discuss ways to enhance their partnerships".
"They have had approaches from folks who have wanted to have discussions," said one head of technology investment banking at a Wall Street bank. "The issue is it is hard to find a value that makes sense with a falling knife."
RIM will hang on for as long as possible, but Amazon - who don't have a foothold in the smartphone market - will no doubt be keeping tabs on a company that may not ultimately have time to waste.