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Report: Fairfax struggling to line up BlackBerry buyers

  • Fairfax Financial (FRFHF.PK) is having a tough sell as it courts Canada's pension funds to join it in a buyout of BlackBerry (BBRY), reports The Globe and Mail. "Sources say none of the big funds have jumped on board with the idea, amid growing skepticism about the company’s ability to turn around falling sales."
  • Farifax itself is debating whether to buy the entire company or unload its 9.9% stake, and would prefer finding another tech industry player to buy BlackBerry, say sources, but "the company’s loss of market share to bigger and more nimble competitors such as Apple has dampened potential acquisition interest."
  • BBRY -3.1% premarket.
Comments (31)
  • Deja Vu
    , contributor
    Comments (1425) | Send Message
     
    Translation - Watsa did not find a bigger fool and is now going to jump out of the plane, leaving the retail investors still strapped to their seats in the economy section.

     

    May see 9's today.
    10 Sep 2013, 08:25 AM Reply Like
  • Aristotle5
    , contributor
    Comments (573) | Send Message
     
    Deja Vu - You cannot be serious. How about the 5's by the end of the day and maybe bankruptcy tomorrow.
    10 Sep 2013, 08:46 AM Reply Like
  • Deja Vu
    , contributor
    Comments (1425) | Send Message
     
    My dear fellow McEnroe fan, I remember at the slightest hint of bad news for the buyout BBRY dropped to 9.42 from 10.7 in minutes.
    10 Sep 2013, 09:10 AM Reply Like
  • BIG_BEN
    , contributor
    Comments (156) | Send Message
     
    Hah. I got a chuckle out of the McEnroe reference. Just thought you would want to know. :)
    10 Sep 2013, 09:24 AM Reply Like
  • nosaku
    , contributor
    Comments (2) | Send Message
     
    I didn't see a 9 today. Did I miss it?
    10 Sep 2013, 04:16 PM Reply Like
  • Deja Vu
    , contributor
    Comments (1425) | Send Message
     
    Did you see a confirmed report today saying Watsa bailed? Write back after you do.
    10 Sep 2013, 09:31 PM Reply Like
  • Michael Blair
    , contributor
    Comments (4962) | Send Message
     
    Definitely not a good sign if accurate. Globe and Mail is pretty reliable.
    10 Sep 2013, 08:31 AM Reply Like
  • bud zeedee
    , contributor
    Comments (425) | Send Message
     
    Reliable like the WSJ and the Sunday Times. In the internet age none of the traditional broadsheets have maintained their integrity.
    10 Sep 2013, 10:29 AM Reply Like
  • jcount
    , contributor
    Comments (275) | Send Message
     
    You'd think he had a plan other than to take a huge loss on his investment
    10 Sep 2013, 08:31 AM Reply Like
  • Genesis Housing
    , contributor
    Comments (429) | Send Message
     
    I think all these private buy out stories are bit of a spoof
    10 Sep 2013, 08:36 AM Reply Like
  • Aristotle5
    , contributor
    Comments (573) | Send Message
     
    I doubt the accuracy of this story. Just yesterday Fairfax suppossedly had lined up investors to take BBRY private. Now, less than 24 hours later Fairfax cannot line up investors. Smells like stock price manipulation to me. I just bought 4,000 more shares,
    10 Sep 2013, 08:38 AM Reply Like
  • Randal James
    , contributor
    Comments (3406) | Send Message
     
    It is rare to find someone with such casual indifference to the value of money. Good luck.
    10 Sep 2013, 08:51 AM Reply Like
  • Aristotle5
    , contributor
    Comments (573) | Send Message
     
    Not in the least. Something is going to happen very soon. Whatever happens the share price will be above $15.00.
    10 Sep 2013, 09:01 AM Reply Like
  • the_value_vulture
    , contributor
    Comments (224) | Send Message
     
    So after one resource claimed prem lined up financing, another comes out and says he's not even close and is considering just jumping ship. Smells like manipulation. Actions by the company as of late look like a sale.
    10 Sep 2013, 08:38 AM Reply Like
  • BIG_BEN
    , contributor
    Comments (156) | Send Message
     
    Guess I will keep my Sept 12/13 put spread open a bit longer. I think a lot of the exuberance has been based on MSFT's buyout of NOK in which I don't see much correlation. NOK was WP8. Nobody else makes BB10 handsets plus WP8 seems to even be growing its market share as BBRY's is going in the opposite direction. It seems like just a few short years ago that my company was full of BB devices but I was so happy to kick our BES server out the door 2 years ago.
    10 Sep 2013, 08:41 AM Reply Like
  • Aristotle5
    , contributor
    Comments (573) | Send Message
     
    the_value_vulture has it right. Look at the BOD's statements and actions and not news headlines.
    10 Sep 2013, 08:42 AM Reply Like
  • BIG_BEN
    , contributor
    Comments (156) | Send Message
     
    You could be right. It could also be an attempt to try to get a bidder or an attempt to drive up the share price to cash out some shares. Being long BBRY is probably not a bad speculative play right now though. I am short via put spreads just in case someone bites and makes an offer!
    10 Sep 2013, 08:47 AM Reply Like
  • DeepValueLover
    , contributor
    Comments (9635) | Send Message
     
    Watsa should call up his investing buddy Wilbur Ross and also Stephen Elop from Microsoft's Nokia division to line up financing.

     

    Slam dunk.
    10 Sep 2013, 08:47 AM Reply Like
  • WATERLOO JOE
    , contributor
    Comments (396) | Send Message
     
    BLA BLA BLA ,
    10 Sep 2013, 09:07 AM Reply Like
  • WATERLOO JOE
    , contributor
    Comments (396) | Send Message
     
    Quote fr Joe Friday === Just the FACTS MAM, that's all we want
    10 Sep 2013, 09:08 AM Reply Like
  • xtremetrader
    , contributor
    Comments (57) | Send Message
     
    I guess the last few days were a suckers rally! Rumours get started and greed makes retail investors buy when they should have been selling. This is going to go back down big time.
    10 Sep 2013, 10:20 AM Reply Like
  • tiger8896
    , contributor
    Comments (641) | Send Message
     
    Why is anybody surprised that Canadian pension funds are not supportive of a BBRY buyout. Pension funds Canadian or not have a fiduciary responsibility to make prudent investments. Clearly BBRY is not a prudent one, it's speculative at best and certainly not worth a multi-billion dollar investment by any single fund.

     

    The Canadian money was the best chance for BBRY to be taken private so I think that option is out the window if this report is accurate.
    10 Sep 2013, 11:11 AM Reply Like
  • la cabanya
    , contributor
    Comments (70) | Send Message
     
    Is very strange that after a couple of days of good news about BBRY, AB contributors are lining a sequence of very bad news that basically drive the stock down immediately!
    How this can happen always the same way???
    This is not coincidence as it happened more that ten times recently!
    Hey friends anybody has a clear answer of what is going on???
    10 Sep 2013, 01:15 PM Reply Like
  • logicalman
    , contributor
    Comments (763) | Send Message
     
    la cabanya,
    Nothing strange here, it's just working out the way most speculative, high volatility stocks perform. For my money I'm very long. My feeling on all of this: 1- We get a buyout, sale, partial sale, other buyer as a partner, or whatever. If this happens expect to see the sp at a minimum of 15 before all is said and done. 2- No buyout,sale, etc etc. BBRY Sep. 27 reports is bad but not catastrophic, sp ends up around 10 a few days after the report. Will it go much lower? I don't think so, if it does I will continue accumulating. Investors will be looking forward to the next quarter which should be at least a bit better than this one. The sp will probably play between 10 and 15 before that next report in December. It will be a merry xmas for all who bought lower than 15, and maybe for those that bought below 20. Sound like a fairy tale? to some yes, to me it's more like reality. Please check with me at xmas. I will be a very merry investor. Peace!!!
    10 Sep 2013, 06:13 PM Reply Like
  • peacemaker2012
    , contributor
    Comments (22) | Send Message
     
    keep selling - I am buying and I prefer to have the price go down while I buy. taking RIM private makes lots of money.
    10 Sep 2013, 04:16 PM Reply Like
  • tiger8896
    , contributor
    Comments (641) | Send Message
     
    Just saw on Bloomberg that BBRY is intending to meet with Canadian gov't officials about the Investment Canada Act. Looks like they are getting their ducks in line in case of a foreign buyout.
    10 Sep 2013, 05:17 PM Reply Like
  • Randal James
    , contributor
    Comments (3406) | Send Message
     
    While still putting together CDN buyers for choice assets

     

    http://bit.ly/1d4n5Hm

     

    :)
    10 Sep 2013, 07:05 PM Reply Like
  • mirage12
    , contributor
    Comments (98) | Send Message
     
    Randal, get real. This isn't a joke for the majority of ppl. You have no position as stated so do us all a favour and watch from a distance.
    10 Sep 2013, 08:48 PM Reply Like
  • Crazy Mazy
    , contributor
    Comments (434) | Send Message
     
    My god incredible, yesterday Fairfax had buyers lined up, today they are struggling to line up buyers. Someone is lying? Is this type of reporting legal?
    10 Sep 2013, 08:49 PM Reply Like
  • Crazy Mazy
    , contributor
    Comments (434) | Send Message
     
    The company will be sold, they basically are hinting that a deal will be done before end of November,(didn't you people read between the lines). Isn't it obvious. The media keeps putting out negative articles to make the stock tank, but it's not going to happen! They just want Blackberry to fail so they can say I told you so. It's not going to happen. Prem Watsa has the pension funds on board, but wants to see if an other company wants to buy Blackberry (preferably a google type company). If that doesn't happen then he will take the company private with the help of the pension funds. The pension funds can invest the money if they want to. How does any one know if they said "no way". That is confidential and if someone leaks that info it would be illegal. So any news report for or against the deal is just speculation.
    12 Sep 2013, 11:24 PM Reply Like
  • Crazy Mazy
    , contributor
    Comments (434) | Send Message
     
    the stock price is not going down big time (not until Sept 27) unless something major catastrophic happens!
    12 Sep 2013, 11:25 PM Reply Like
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