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Donald Yacktman, president and founder of Yacktman Asset Management which holds something under 1 percent of BlackBerry according to Thomson Reuters data, said he does not expect a counteroffer to emerge.
"This is pretty much Plan B. They've clearly not hit the targets," he said.
Jack Gold, principal analyst and founder of J. Gold Associates, said "this is probably the best possible outcome of several unattractive options for BlackBerry."
"Going private and potentially bringing back the founder of the company, Mike Lazaridis (as has been rumored) could buy them some time to put the house in order," he noted.
Lazaridis, BlackBerry's co-CEO until early 2012 and a board member until March, did not respond to requests for comment.
On Friday, BlackBerry said it would step back from the hypercompetitive consumer market and focus on what it calls enterprise customers - businesses, governments, legal firms and security forces.
The company warned it would report revenue on the sale of just 3.7 million of its phones for the entire second quarter, and write down almost $1 billion.
By contrast, Apple sold 9 million iPhone 5s and iPhone 5c models in three days after their Friday launch.
A Defense Department official said the Pentagon had more than 600,000 mobile devices in use in spring, including 470,000 BlackBerrys, 41,000 devices with Apple operating systems and 8,700 smart phones with Android systems.
"We are moving towards a secure mobile communications infrastructure that supports a variety of devices," the official said.
Blackberry has rarely traded below $9 a share even in recent years when it issued profit warnings, slashed jobs and launched devices that arrived late to disinterested audiences.
In the past 12 months the stock has risen as high as $18.32 and fallen as low as $6.22 on the Nasdaq.
BDT & Company, LLC, BofA Merrill Lynch and BMO Capital Markets are acting as financial advisors, and Shearman & Sterling LLP and McCarthy Tétrault LLP are acting as legal advisors to Fairfax in connection with the transaction.