Fairfax has until tea-time to firm up BlackBerry offer

Fairfax Financial Holdings (FRFHF) has until 5 pm today to firm up the preliminary $4.7B bid for BlackBerry (BBRY) that the Toronto-based firm made six weeks ago.

The deadline comes amid reports that Fairfax, which is BlackBerry's largest shareholder with a 9.9% stake, has struggled to secure financing for the deal, while it is also yet to name partners.

Other bids could come in by the deadline, although it could be extended. Those who are reportedly interested in the beleaguered cell-phone maker include a group that could eventually be comprised of the company's founders, Qualcomm (QCOM) and Cerberus.

Comments (6)
  • mvermaak
    , contributor
    Comments (455) | Send Message
    I am amazed at the power of the USA controlled press ,that is why socialists refer to America as the Empire .I presume it means that banks in general after all bad publicity do not want to be seen as financing a deal for bbry .i cannot imagine Fairfax not beingable to come up with the financing
    4 Nov 2013, 05:13 AM Reply Like
  • Gout Attack
    , contributor
    Comments (416) | Send Message
    Looking forward to hearing how PW spins this one later today. He first will dismount from his "stalking horse." Then we likely get an encore from BOD, who agreed to such bizarre terms in the first place. The excuses and equivocations from both are well worth the price of admission. As an ardent bull on BB, I am all to familiar with paying a high price to date.
    4 Nov 2013, 05:51 AM Reply Like
  • Randal James
    , contributor
    Comments (4375) | Send Message


    If the deal does not come to pass today, you may have the opportunity to pay a low price and compare the experience!


    4 Nov 2013, 07:42 AM Reply Like
  • usajordi
    , contributor
    Comments (200) | Send Message
    @Gout attack, and good faith shareholders,
    Prem Watsa, BS, TH, the BOD and Chief Cooking Officer should go into be books of Canadian Business as the biggest incapable crooks ever assembled.
    They had the best opportunities to turn BBRY around and they delivered only failure!
    BBRY should stay together, I would not sell the company in parts at any price.
    With the possibilities of the Z30, the BES, the BB10, the QNX, and the thousands of possible money generating apps and channels where companies could offer movies, shows, series, games and all kinds of e-commerce, where BBRY will be able to take a big percentage of the charges, up to 30% or more when the CC is processed in the BBRY system; and that will result one day in hundreds of millions on Dollars in additional collections, the last thing we want is give the company away to Prem Watsa that will sell it in pieces for his personal profit!He has proved already, acting as a hard stakes poker player, that he is out there for himself at any price, including damaging (what he says ids his pristine reputation of 28 years that should go down to the sewer today), as Warren Buffet said, takes 20 years to build credibility and you need only a few minutes to destroy it!Let's fight all the way to be able to keep BBRY together and see if the actual shareholders can participate in the brightest future that expects the company if is properly managed by the best team that should be assembled!
    4 Nov 2013, 07:49 AM Reply Like
  • Tim Bee
    , contributor
    Comments (145) | Send Message
    I think they may use this financing problem as an excuse to lower the offer price.
    4 Nov 2013, 08:12 AM Reply Like
  • kuzzik
    , contributor
    Comments (89) | Send Message
    Well then they did a good a job, the stock price is below 7
    4 Nov 2013, 01:20 PM Reply Like
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