Blackberry maker RIM initially bid $66 million cash, or $1.50 per share (76.5% premium over Certicom’s Dec 3 2008 stock price) in a hostile corporate takeover attempt of Ontario-based security software maker Certicom. Since then the two companies have been involved in heated exchanges. The Certicom board thought the bid was too low which undervalued the true company value and it also alleged RIM used classified information in its bid. Certicom subsequently won an Ontario court order blocking the acquisition. It seemed RIM would ended Certicom acquisition attempts.

Now, RIM has just upped its bid to $2.40, sending the Certicom stock price up 35% today on the TSE. The US company Verisign is also interested in the acquisition, who bid $2.10 per share in January, which was approved by the Certicom board. Verisign will have the opportunity to up its bid five days after Certicom chooses RIM, if it does at all.

Blackberry maker, RIM, has announced it has withdrawn its $66 million hostile takeover bid of Certicom, after an Ontario Court ruled on Monday RIM used confidential information in its bid.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.

The Ontario Superior Court ruled in favor of Certicom to block RIM’s unsolicited hostile takeover bid of CND $66 million. RIM has now said today it will appeal the decision to grant Certicom the injunction. RIM says the injunction also prohibits RIM from making bids during an auction, unless Certicom authorizes RIM.

Blackberry 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.

I previously firstly reported that Blackberry maker, RIM, made an unsolicited bid to buy Certicom, an Ontario based encryption software company for 66 million in cash, or $1.50 per share. RIM has now said that Certicom (Ticker: CERTF) is moving to block the takeover attempt by issuing an injunction and cease trade against the deal as it accuses RIM of using confidential information in its bid and also says the offered tender undervalues the company value. More information to come as it develops.

Blackberry maker, Research In Motion, has lowered its expected Q3 earnings. RIM has now cut Q3 adjusted earnings between 81 and 83 cents, down from its first forecast of 89 to 97 cents per diluted share. The company has also lowered its Q3 revenue expectation to $2.75-$2.78 billion, down significantly from $2.95-$3.10 billion.

In more news RIM has made an unsolicited offer to buy Certicom, a Mississauga, Ontario, CAN, based cryptographic technology company for $66 million in cash, or $1.50 per share (a 76.5% premium over Certicom’s closing price today of $1.23). Interestingly, overnight, Certicom’s stock price jumped significantly from $0.7 per share to $1.23. RIM CEO Jim Balsillie said “”We believe our proposed offer is fair, reflects the full value of Certicom and takes into account the growth prospects” There is no other information relating to whether the deal will be accepted by shareholders.

I personally see trouble ahead for RIM. RIM will have increased competition from the iPhone, among other phones in the consumer market including the new and powerful Nokia N97. The Blackberry might simply be too simple for the consumer market, and as more phones now support seamless push e-mail with IMAP idle, consumers might stay away from the Blackberry and opt for more ‘fun’ phones, if you will.