Blackberry Bidder Has Not Arranged Financing

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Nov. 4 (Bloomberg) –- Bloomberg’s Mia Saini reports on Fairfax Financial’s $4.7B offer for Blackberry that has yet to be firmed up. She speaks to Rishaad Salamat on Bloomberg Television’s “On The Move Asia.” (Source: Bloomberg)

Part of the world.

The clock is ticking for bidders to submit final offers for blackberry.

Shareholders have yet to arrange the financing.

10%, if we're talking about fairfax financial.

They have time to submit their final bid.

For the past six weeks, they have been doing due diligence.

They sign a nondisclosure agreement to get this kind of information.

According to people familiar with the matter, they have not arrange for any financing.

Bank of america and bank of montreal have been rebuffed by other lenders.

It seems like there is not enough demand to finance this leveraged buyout.

It is unclear if they can secure any of this cash.

What we do know is that they have a couple of options.

They could get that money together.

There are a few more hours left before the deadline happens.

They could ask for an extension from blackberry.

That is the most likely.

Is that company attractive in any way?

One people look at blackberry, they look at the patent portfolio.

They have $1.5 billion.

It is hard to value.

But that is what a couple of and was up with the figure around.

We have seen that around capital management.

They have been working with the founders of blackberry and, perhaps, they could have a coalition joint bid.

We have no details on whether or not that will go forward.

What i can tell you is that if fairfax -- a blackberry does not take a bit from fairfax, they would owe a $157 million fee to fairfax.

Essentially, a breakup fee.

If you do not go with me, that is the fee you have to pay.

The question is, who is going to come along.

There is a chance that counter offers could be coming towards back very -- blackberry.

What we do know is that blackberry is not a company you want to be off 90% in the last

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