It looks like the fat lady hasn’t sung yet for RIM’s hopes to purchase Canadian security company Certicom. After Certicom had successfully lobbied the Superior Court to strike down RIM’s hostile bid, instead choosing a larger offer from VeriSign, we recommended that RIM forget the whole mess even happened. Instead, the boys and girls from Waterloo have rolled up their sleeves and rushed back into the game.
Reuters is reporting that RIM has returned with a second offer for Certicom today, doubling its bid to C$3 a share, or about C$131.1 million in total. RIM’s new offer is about 43% higher than VeriSign’s bid.
Certicom has said its independent directors are reviewing the RIM bid with its financial and legal advisers and has plans to tell shareholders what it thinks of the offer no later than Thursday.