Just had a guest on who said 80% chance BBRY goes for less than $9 (He estimates $8.50) and 20% chance LOI falls through and BBRY has to go at it alone.
Guest on Canadian business news (BNN) said this morning that this could be an attempt to force a second bidder who may have been pondering buying BBRY. If no bid is received FFX could very well walk away. If they are willing to make an offer you would think they have done their due diligence and not wait 6 weeks to figure out if they will go through with the acquisition.
I would think this is extremely bearish price action. If no decision on a timeline for tapering was given and some side comments from a few dissenters can drop it 5% its not looking good for upside from here.
All the longs should go into a class action suit because Friday's pre announcement was all orchestrated by Watsa to make his bid look reasonable. Go get um longs, get some of your hard earned money back.