RIM Stock Surges 10% on Talks of Amazon Takeover
Shares of Research In Motion surged 10% this morning over rumours that surfaced yesterday that Amazon may be in talks with the company over a merger. Amazon hired an investment bank in the summer to consider the feasibility of buying RIM, but didn't end up making an offer, according to Reuters.
However, the sources suggest that the two companies are still in talks, and this has sparked the interest of investors. RIM has become cheaper since the summer but would still cost at least $10 billion to purchase in full.
Apple's iOS platform and Google's Android platform have thoroughly devoured BlackBerry's marketshare over the past couple of years, transforming the perception of RIM from an innovative pioneer into a hopeless laggard. In August, Google bought Motorola Mobility for $12.5 billion.
