The breakup fee between Blackberry and Fairfax goes up by about $100 million once those two strike a firm deal. Monday is the deadline for that 6 week DD period (as if Fairfax didn't already know everything about the company). Why hasn't Fairfax committed on the deal at $9 per share? If Mr Watsa is indeed a well-respected businessman, then $9 is his offer and he stands to make an additional $100 M if he moves ahead (and an ultimately higher bid is accepted). Why hasn't he moved ahead? Is the fault at his end or at Blackberry's end because they are shopping the company around yet?
Mr Watsa's 28 year history and reputation will be MUD if he pulls out of this deal. The cash plus the real estate on Blackberry's books cover the deal 150%. $9 is a steal for Fairfax. His own shareholders should sue him if he botches this deal.