Fairfax has until tea-time to firm up BlackBerry offer

|About: Fairfax Financial Holding... (FRFHF)|By:, SA News Editor

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.