Analysts warn acquisition of firm unlikely
Shares of Research In Motion Ltd. rose as much as 13 per cent on Wednesday trading on the Toronto Stock Exchange following reports Amazon.com Inc. had considered acquiring the beleaguered Canadian BlackBerry maker.
The jump in share price is a departure from the negative trend the Waterloo, Ont.-based company's stock has experienced over the course of 2011.
Delays in new smartphone rollouts, a bungled launch of the company's BlackBerry Playbook tablet and an anemic North American market share have sent RIM shares down more than 77 per cent since January.
RIM rides wave of takeover talk