(Reuters) - A consortium led by Fairfax Financial has offered to buy Blackberry Ltd for $4.7 billion, tossing the struggling Canadian smartphone maker a lifeline as it continues to bleed market share. Commentary: COLIN GILLIS, ANALYST, BGC PARTNERS "This is a take-under but at least they got one bid. "This is a company that needs to go private if they have any chance. They'd be able to restructure outside of the public eye, take a long term view, and run the company at break even. "It's better than being broken up into pieces. "But this is conditional on financing. This is not a done deal. ...

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