RIM Extends Certicom Acquisition Offer

rimBlackberry maker RIM has extended its offer to acquire encryption software company Certicom to Jan 27 09, from Jan 12. Originally, RIM was offering $1.50 per share, or $66 million in cash for the Ontario based company. RIM has not changed the terms of the offer. The issue here is that Certicom shareholders have moved to block the acquisition as they believe the offer undervalues the true company value, and they also accuse RIM of using confidential information in its bid. Proceedings in the Ontario Superior Court are scheduled Jan 9.


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Hercules holds a B.Comm Finance from Ryerson University in Toronto, Canada. He is a Chartered Financial Analyst (CFA) level 3 candidate. He was previously a contributor at FiLife, a finance website owned by Dow Jones and IAC. Write to hercules@business2press.com
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