It's been a whirlwind several days for BlackBerry.
Last Friday the company announced that their business was in free-fall, expecting to post a net operating loss of nearly $1 billion and to lay off approximately 4,500 workers.
Then on Monday, they announced a take-private bid from their largest shareholder, Fairfax Financial Holding, who owns about 10 percent of the company's stock.
But is this buyout bid for real, or is it merely a stalking horse bid to either obscure another party or create a sense of urgency among strategic players? For many reasons, I am inclined to believe the latter.
To begin with, there's very little downside and a whole lot of upside for Fairfax to make this bid. The bid is hardly airtight; based on reports, Fairfax does not have financing attached to the bid and there are basically no penalties for failing to follow through.