As per Reuters, Research In Motion apparently rejected takeover bids from the retail giant Amazon and instead preferred to continue as it is. Although it is unclear at what stage the discussions had reached before the offer was annulled by co-CEO’s Lazardis and Balsillie.
Reuters claims that Amazon had hired an investment banking firm in order to understand the valuation of the BlackBerry makers and discuss a takeover proposition with them. Though, RIM decided against it citing that they are not ready for a sale or even a joint venture as they, believe that they need to stabilize the new QNX platform before they can go ahead with any kind of further investment or a deal.
It’s certain that RIM investors won’t be exactly extremely happy with the news, especially Jaguar Financial Corporation which owns about 5% stake in RIM and has been very vocal about its opinion of management at RIM. JFC had earlier event written an open letter to RIM demanding the sale of the firm or the patent portfolio at least to bring any value to the investors before the value of its stocks dilute any further.
Though RIM has seen some substantial growth in November around the world, their market share in the US has only been on a steady decline since quite some time and any further deterioration in the valuation of the firm will certainly not be taken lightly by its investors especially considering the fact that their new BlackBerry 10 lineup is going to be delayed.
