A word here, a number there . . . nothing remotely solid has been established, but rumors that Google and/or News Corp bid on video search engine Blinkx were enough to send the company’s stock up 53 percent today.
Shares of Blinkx, which trades on the London Stock Exchange, went as high as 38.25 pence after opening at 25.00 pence. The ghost bid could have, according to Peter Garnham and Neil Hume, been as high as 60 pence.
Blinkx Rises, Falls On Acquisition Rumors
This doesn’t seem too unreasonable. Blinkx is a very active company, issuing at least two or three press releases per week about new partnerships. Also, although the quality of these partners often leaves something to be desired, The Poker Channel, Hearst Digital, and the Guardian have been among the names most recently mentioned.
Don’t count on an acquisition taking place, though; The Financial Mites reports that Blinkx has issued about as firm a corporate-speak denial as you’re likely to hear. The company’s claim: “The Board of blinkx plc notes the recent increase in the Company’s share price and confirms that it is not aware of any external bids or bid-related reason for the movement.”
And Blinkx’s stock is heading back down, so it looks as if investors now believe that no buyout is imminent.
