RIM rejected potential Amazon takeover

According to a Reuters report, BlackBerry maker Research in Motion turned down takeover talk from Amazon and other potential buyers, preferring to try and fix the company themselves according to “people with knowledge of the situation.”

Earlier this year Amazon hired an investment bank to review a potential merger with RIM, however it stopped short of making a formal offer. It is still unclear whether a possible price for RIM was discussed.

RIM’s board would prefer that co-chief executives Mike Lazaridis and Jim Balsillie attempt to turn the business around in 2012; RIM has seen its fair share of downtime and loss of market share in 2011.

The company has seen its market value drop by 77 percent in the last 12 months, now sitting at around $6.8 billion. Disappointing PlayBook sales, delayed phone launches and weak quarterly reports are all factors that have led to the crisis RIM now finds itself in.

Read the full story at: Reuters.

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RIM rejected potential Amazon takeover