RIM Drops Takeover Bid For Certicom After Injunction

Law360, New York (January 21, 2009, 12:00 AM EST) -- BlackBerry maker Research In Motion Ltd. has withdrawn its CAD $66 million ($52.6 million) takeover bid for Certicom Corp. in light of a Canadian court's Monday injunction barring the offer.

The Ontario Superior Court of Justice found that RIM and its subsidiary had breached nondisclosure agreements with Certicom reached in 2007 and 2008, when the companies were considering a friendly acquisition, Certicom said in a statement Monday.

The court found that RIM had used confidential information it obtained during those discussions to make its hostile bid...
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