Research in Motion opens takeover bid for Certicom

RIM, based in Waterloo, Ontario, said Dec. 3 that it would offer shareholders 1.50 Canadian dollars ($1.20) per share, or about CA$66 million ($52.6 million) for Certicom's outstanding shares.

The offer represents a premium of about 76.5 percent over Certicom's closing price Dec. 2.

The Mississauga, Ontario, company, which makes encryption technology for wireless communications, has said it is looking for competing bids.

RIM said Wednesday that its offer to shareholders will close at 5 p.m. EST on Jan. 15.

Research in Motion shares fell 85 cents, or 2.2 percent, to $38.36 in afternoon trading.