Samsung reportedly in talks to purchase BlackBerry [update: BlackBerry denies discussions]

According to a new report, Samsung has approached BlackBerry for a potential takeover worth as much as $7.5 billion.

The news from Reuters, citing unnamed sources:

Executives from the two companies, which are working with advisers, met last week to discuss a potential transaction, the source said, asking not to be identified because the conversations are private.

Reuters also reports that Samsung proposed a price range of $13.35 to $15.49 per share. Shares of BBRY opened the day at $9.32 and were trading below $10 before the news broke, but since then have shot up to over $13/share on the back of this rumor.

We'll have more as this develops.

Update: BlackBerry has issued the following response denying reported discussions with Samsung:

BlackBerry Limited is aware of certain press reports published today with respect to a possible offer by Samsung to purchase BlackBerry. BlackBerry has not engaged in discussions with Samsung with respect to any possible offer to purchase BlackBerry. BlackBerry's policy is not to comment on rumors or speculation, and accordingly it does not intend to comment further.

Source: Reuters

Dan Thorp-Lancaster