Blackberry's logo (below) resembles nothing as much as a hail of seven silver bullets. It appears the gun has been pointing the wrong way. The FT writes: BlackBerry has agreed to a tentative takeover offer from a Fairfax Financial led group, valuing the company at $4.7bn. The deal, if approved after a six-week due diligence period, would return $9 per share to current shareholders. Shareholders have seen the value of the company decline sharply over the past two days, after it warned it would take a near $1bn charge over unsold devices and slash its workforce by 40 per cent. Fairfax currently holds 10 per cent of BlackBerry, and is seeking financing from BofA Merrill Lynch and BMO Capital Markets. What's the most damning detail in all this? Perhaps it's that the "takeover" is priced at a mere 9 per cent premium to Blackberry's undisturbed share price on the day and a hefty 21 per cent discount to the 30-day average. Perhaps it's that Fairfax has run out of alternatives to average down its investment, having been backing Blackberry to recover since 2010. Or perhaps it's that, for the $4.7bn agreed, its consortium might have bought ENRC instead. Further reading: Research in Commotion - FT Alphaville End of days - FT Lex