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RIM (RIMM) May Hire JPMorgan to Shop Itself

Posted by The Staff on Apr 19, 2012 3:48 PM

An article published today at Bloomberg suggests that beleaguered telecommunications company, RIM (Nasdaq: RIMM), could be in talks to sell itself or part of its company. According to reports, RIM is considering hiring JPMorgan Chase & Co. to help it manage "strategic options".

William Blair analyst, Doradla, said RIM doesn't need a banker to negotiate a licensing relationship. "The way I interpret hiring a banker is to sell parts of business, an outright sale or an equity stake by a third party."

Tenille Kennedy, a RIM spokeswoman, refused to comment on any possible sale of the company.

RIM shares have dropped 75% in the past 12 months.

RIMM is number 7 on the ESA Top 100.

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