Amazon Planning to Buy RIM?

Online retail giant Amazon reportedly recruited an investment bank to analyse a potential merger with the Canada based tech giant Research In Motion (RIM), however the proposal was straightway declined by the BlackBerry and PlayBook maker.

Apparently, RIM rebuffed the merger plan as it wanted to resolve the entire crisis it is going through currently on its own. According to a report by Reuters, though the Kindle maker approached the investment bank earlier this year with the vision of acquiring RIM, it did not make any formal offer to the company.

It is yet to be known whether or not there was ever an informal discussion between RIM and Amazon on the issue, and neither is it known if any other company apart from the retail giant was in touch with RIM with a takeover plan.

"They have had approaches from folks who have wanted to have discussions," said a head of technology investment banking at a Wall Street bank, according to a Telegraph report.

"The issue is it is hard to find a value that makes sense with a falling knife," he added.

Meanwhile, both Amazon and RIM are currently in talks to expand their existing business ties further.