Struggling Canadian smartphone maker BlackBerry's (NYSE:BB) long slide into irrelevance -- at least as far as public market investors are concerned -- may have met an end finally. On Monday, news broke that superinvestor Prem Watsa, head of Fairfax Financial, had signed a letter of intent to buy the remaining shares his financial powerhouse had yet to own for $9 per share.

This is welcome news as it seems potential buyers for BlackBerry weren't exactly coming out of the woodwork. According to reports, Fairfax was the only bidder to proceed past simple due diligence.

But the deal is still far from a sure thing: Fairfax will have to clear several hurdles in order to conclude this sad chapter, which Fool contributor Andrew Tonner discusses in the video below.

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