BlackBerry and Samsung Deny Takeover Rumor, BlackBerry Gains Erased

BlackBerry BBRY shot sharply higher yesterday following a Reuters article that Samsung (OTCMKTS: SSNLF) was in discussion to offer $13.35 to $15.49 for the smartphone maker. Since closing yesterday at $12.60, both BlackBerry and Samsung have denied the rumor.

That erased the gains in BlackBerry – sending the stock to $10.55, 16 percent lower, in premarket trade.

J.P. Morgan’s Rod Hall said today in a note that there is “some strategic logic” to the deal, which would give Samsung enterprise smartphone and messaging capabilities and sales. However, he said that barring a takeover, he sees BlackBerry as a difficult stock to own – at least until more evidence of BES 12 adoption emerges.