Although Fairfax Financial is offering to pay $4.7 billion to acquire BlackBerry and take the company private, it’s still giving the BlackBerry board of directors some time to shop around for better offers. The chances of BlackBerry scoring a deal better than the one Fairfax is offering seem decidedly slim at the moment, however. Per Barron’s, Citigroup analyst Jim Suva writes that Fairfax likely went public with its buyout proposal to spur other bids in the company, an event that he describes as “unlikely.” What’s more, Suva thinks that Fairfax may have difficulty raising the capital it needs to buy BlackBerry because “the severity of [BlackBerry's] business fundamentals deterioration poses a real risk in this transaction.”

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