Fairfax Financial Holdings Limited is a financial services holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and investment management. The company has been under present management since 1985 and is headquartered in Toronto, Canada.... More
Monday, Nov 45:00 AMFairfax has until tea-time to firm up BlackBerry offer
Monday, Nov 45:00 AM| 6 Comments
- Fairfax Financial Holdings (FRFHF) has until 5 pm today to firm up the preliminary $4.7B bid for BlackBerry (BBRY) that the Toronto-based firm made six weeks ago.
- The deadline comes amid reports that Fairfax, which is BlackBerry's largest shareholder with a 9.9% stake, has struggled to secure financing for the deal, while it is also yet to name partners.
- Other bids could come in by the deadline, although it could be extended. Those who are reportedly interested in the beleaguered cell-phone maker include a group that could eventually be comprised of the company's founders, Qualcomm (QCOM) and Cerberus.
Monday, Aug 193:36 PMFairfax Financial to sell reinsurance unit as part of acquisiton
Monday, Aug 193:36 PM| 1 Comment
- Prem Watsa's Fairfax Financial Holdings (FRFHF.PK +0.6%) agrees to sell American Safety Reinsurance to Catalina Holdings Bermuda for undisclosed terms.
- Fairfax is getting the reinsurance unit as part of its purchase of American Safety Insurance. Catalina had also bid for the company, but has agreed to vote its shares for Fairfax as part of the reinsurance deal.
Tuesday, Aug 132:18 AMPossible buyout of BlackBerry by Canadian firms gains momentum
Tuesday, Aug 132:18 AM| 9 Comments
- Alberta Investment Management would think about investing in BlackBerry (BBRY) if the company were to go private.
- It's early days," AIMCo CEO Leo De Bever said. "No one has approached us with anything that is baked.
- AIMCo's public interest adds to that of the Canada Pension Plan Investment Board, as well as to a report that Prem Watsa's Fairfax Financial (FRFHF.PK) is is "exploring ways" to take the company private. Watsa resigned from BlackBerry's board after it formed a special committee to explore strategic alternatives, including a sale. Fairfax is BlackBerry's largest shareholder.
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Monday, Aug 128:22 AMBlackBerry going-private offer coming from Fairfax?
Monday, Aug 128:22 AM| 26 Comments
- Included in the BlackBerry strategic alternative news is Fairfax Financial's (FRFHF.PK) Prem Watsa resigning from the board to avoid a conflict of interest.
- Leading the special committee will be TPG Capital Senior Partner Timothy Dattels.
- The combination suggests some sort of going-private bid by Fairfax, perhaps partnering with the Canadian Pension Plan.
- BBRY is set to resume trading at 8:30 ET.
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cheznazi:: Uff! 466.7 million!!! You need guts to buy at $50 and see it dip to $6.43 & still hold! Guts or stupidity... in his case I guess CONFIDENCE!
idkmybffjill:: Blackberry wouldn't even remotely move Buffett's needle...
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realornot:: Research lost motion. This company is being sold off piece by piece. It is over!