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BREAKING- BlackBerry Shares 9 Percent Higher on Going Private Rumors

Shares of BlackBerry (NASDAQ: BBRY) are soaring 9 percent in premarket trading after a Reuters story saying the company is open to going private.

According to unnamed sources, the board is warming up to the idea that going private would allow the company to address its problems without the media scrutiny and pressure to add immediate shareholder value.

The report indicates that no known deal is in the works and the company hasn’t started any formal exploration into the process.

Read More: BlackBerry Up On Two Positive Seeking Alpha Stories

If the story seems familiar, Dell (NASDAQ: DELL)’s founder Michael Dell is trying to take the company private for similar reasons.

[stock-tools exchange="NASDAQ" symbol="BBRY" image_height="230" image_width="350"]

Disclosure: At the time of this writing, the author had no position in the company mentioned.

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One Comment

  1. Henry Hill

    August 9, 2013 at 5:17 pm

    Is BB10 Dead Already? Read the updates provided in their Earnings Call @ http://stks.co/ceGn