What about Blackberry? How will you respond to any questions about the potential Blackberry deal?
1) Say it is fairly priced at $9 per share. Then why did you put about $1 Billion into the stock with an average closer to $17?
2) Say it is way under-valued at $9 per share. Then you invite others to come in and steal the prize.
3) Say you are walking away from the deal. Then your 28 year reputation is toast.
What's with this article saying Fairfax gets $250 M if someone else buys Blackberry? Fairfax was entitled to $156 M breakup fee that was to rise to $256 M (or so) upon signing a definitive agreement with Blackberry. You failed to perform. You went back into a Director's role then cancelled the sale so no one else (other than Fairfax) could buy the company. You, SIR, are working for the best interest of Fairfax and are violating your fiduciary responsibilities to Blackberry shareholders. What you are doing is self-serving and criminal. May you spend the next ten years defending yourself in legal proceedings!
Well now we know that Blackberry is giving up on efforts to sell the company. It's ironic that you said you were unwilling to add more cash to the transaction to help the sale go through but Fairfax is coming up with a reported $250 million to buy part of the convertible bond offering. Isn't that kind of like being two-faced double dealing? Which side of your face will you talk out of when responding to the lawsuits to be filed against you for your role in this fraud?