RIM Ends Certicom Takeover Bid

rimBlackberry maker, RIM, has announced it has withdrawn its $66 million hostile takeover bid of Certicom, after an Ontario Court ruled on Monday RIM used confidential information in its bid. Certicom wanted the injunction, as it believed RIM used confidential information and the price simply undervalued the company’s fair value. RIM initially offered $1.50 per share on all outstanding common stock. RIM initially announced it would challenge the court ruling, but that does not seem to be the case today. RIM can still make friendly bids to acquire Certicom should it be for sale in the future.


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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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