Word is that a third company is also interested in BlackBerry, although that firm has not yet publicly revealed itself. Should BlackBerry decide to go with another firm, it would be responsible for a $150 million break up free that would be owed to Fairfax. The latter is BlackBerry's largest stockholder with a 10% stake in the company.
Another wild card in the situation is former RIM founder and co-CEO Mike Lazaridis, who still owns 5.7% of BlackBerry stock. He is contemplating joining up with another company to make a bid for BlackBerry, or working with Fairfax on its bid. The Fairfax bid remains quite iffy at the moment as the company has not secured financing for the $4.7 billion offer.
The agreement with BlackBerry calls for Fairfax to deliver an initial merger agreement to BlackBerry's board this week. Failure to do so will shorten the time the company has to complete its due-diligence on the deal, which right now expires on November 4th.