While the press has long focused on Microsoft, market participants are focusing on another familiar name today: Lenovo.
The Lenovo Group's ADR, which trades domestically on the pink sheets under the ticket LNVGY, opened the day lower by 3 percent, possibly because some investors fear it might go after Blackberry.
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Short-term reaction aside, would it make sense for Lenovo to do the deal? "Lenovo wants a broader footprint in North America," said Dan Nathan of RiskReversal.com. And given BlackBerry's sum-of-parts valuation, "If you're Lenovo, acquiring this company is not a difficult punt to take."
While Blackberry declined to comment, Lenovo spokesman Brion Tingler had this to say: "In general we're focused on finding right fits for various acquisitions, and we're always on the lookout for relevant opportunities."
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Some analysts, however, doubt the prospect of any deal, noting the many problems afflicting Blackberry right now. "I don't see the company as a takeover target at this time," Colin Gillis of BGC Partners said. "There's simply too much volatility in the business right now."