We wondered yesterday how RIM would respond to Certicom’s very public plea to shareholders to ignore the Waterloo company’s takeover bid. It seems as though we didn’t have to wait very long to receive our answer. RIM has announced that it will extend the expiry date of its offer to acquire all of the outstanding common shares of Certicom for CDN $1.50 in cash per share to January 27th, 2009. The previous deadline was January 15th, 2009. You can read the full release below.
Research In Motion Limited announced today that a wholly-owned subsidiary of RIM will be extending the expiry date of its offer to acquire all of the outstanding common shares of Certicom Corp. for CDN $1.50 in cash per share from January 15, 2009 to 5:00 p.m. (Toronto time) on January 27, 2009. All other terms and conditions of the offer remain unchanged. The formal notice of extension will be mailed to Certicom’s shareholders next week. As previously disclosed, Certicom is bringing applications before the Ontario Superior Court of Justice and the Ontario Securities Commission to prevent RIM’s offer from proceeding. RIM is vigorously opposing such applications and will bring its own proceedings before the Ontario Securities Commission to cease trade Certicom’s shareholder rights plan. RIM is extending the offer so that the court and regulatory proceedings can be dealt with in an orderly time frame within the context of RIM’s offer.