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RIM tops VeriSign offer for Certicom February 6, 2009

Posted by aikservices in Certicom, Financial, Research In Motion, RIM, VeriSign.
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Research In Motion has made a new bid to acquire the mobile security developer Certicom, topping an offer from VeriSign. Certicom went to court to block RIM’s initial bid, saying it was too low. RIM is now offering CAD 3 per share, beating an offer of CAD 2.10 per share from VeriSign. Certicom’s board said it considers RIM’s offer a “superior proposal”, as defined in its agreement with VeriSign. VeriSign now has five business days, until the end of 11 February, to change its offer. If Certicom goes ahead with the RIM deal, it will owe a CAD 4 million termination fee to VeriSign.

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