Reginal Thomas
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Reginal Thomas in reginal thomas,

Fairfax's Bid To Take BlackBerry Private May Tank

Fairfax Financial Holdings LTD is having problems coming up with the money to raise their $4.7 billion bid for BlackBerry LTD. and they only have three days to come up with the funds. Fairfax's advisers on the deal are Bank of America Corp. and Bank of Montreal, and they both have been turned away by lenders in hopes of coming up with the money. Fairfax has had seven weeks to find the financing. There are other companies who want to bid on BlackBerry but I can't help to think the reason Fairfax had problems finding financing for the deal is either because they didn't have a good enough business plan for when they would take over the company or no one sees any more value in BlackBerry period.