BlackBerry Shares Spike After Lenovo CEO Says Deal 'Could Make Sense'7:31 PM EST Mon. Mar. 11, 2013
Shares of BlackBerry jumped Monday while Lenovo shares slumped slightly amid new reports that Lenovo could be thinking of acquiring the Waterloo, Ontario-based mobile device manufacturer.
Lenovo CEO Yang Yuanqing reportedly told Les Echos, a Paris-based financial newspaper, that a deal for BlackBerry "could possibly make sense, but first I need to analyze market and understand what exactly the importance of this company is."
Shares of BlackBerry increased 14 percent to close at $14.90 Monday. Meanwhile, Lenovo's stock fell 3 percent to $21.80 per share. By comparison, the Dow Jones index increased 0.4 percent to $14,447.29, and Nasdaq also climbed slightly, 0.3 percent to $3,252.87.
Rumors first put the two companies together in January, when Lenovo CFO Wong Wai Ming said his company was looking at several acquisitions but mentioned Research In Motion, BlackBerry's former name, in particular.
"We are looking at all opportunities -- RIM and many others," Wong told Bloomberg at the time.
A week later, BlackBerry changed its name and launched its BlackBerry 10 operating system.
PUBLISHED MARCH 11, 2013