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
Tuesday, Mar 41:07 PM
Tuesday, Mar 41:07 PM| 6 Comments
- Wilbur Ross and Fairfax Financial (FRFHF) paid about €0.10 per share when they acquired about an 18% stake in Bank of Ireland (IRE -6.6%) in 2011 to help prevent the lender's nationalization. Not unexpected given strong demand for the stock, today's sale whittles their holdings down to about 12%. The two have more than tripled their money with the investment.
- The Irish government continues to hold a 14% stake in the bank and there will no doubt be heightened interest in an offering of these shares.
Monday, Nov 42013, 5:00 AM
Monday, Nov 42013, 5:00 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.
Tuesday, Sep 102013, 8:21 AM
Tuesday, Sep 102013, 8:21 AM| 31 Comments
- Fairfax Financial (FRFHF.PK) is having a tough sell as it courts Canada's pension funds to join it in a buyout of BlackBerry (BBRY), reports The Globe and Mail. "Sources say none of the big funds have jumped on board with the idea, amid growing skepticism about the company’s ability to turn around falling sales."
- Farifax itself is debating whether to buy the entire company or unload its 9.9% stake, and would prefer finding another tech industry player to buy BlackBerry, say sources, but "the company’s loss of market share to bigger and more nimble competitors such as Apple has dampened potential acquisition interest."
- BBRY -3.1% premarket.
Monday, Aug 192013, 3:36 PM
Monday, Aug 192013, 3:36 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 132013, 2:18 AM
Tuesday, Aug 132013, 2:18 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.
- More on BlackBerry
Monday, Aug 122013, 8:22 AM
Monday, Aug 122013, 8:22 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.
Monday, Jul 232012, 9:07 AMCanadian investor Prem Watsa doubles down again on what was already a big investment in Research In Motion (RIMM), as a filing shows his Fairfax Financial (FRFHF.PK) goes to 51.9M shares - worth about $351M, a 9.9% stake. Watsa figures RIMM's undervalued and recovery could take three to five years. |Monday, Jul 232012, 9:07 AM| 27 Comments
Friday, Jan 272012, 9:47 AMCanada's Warren Buffett, Prem Watsa of Fairfax Financial (FRFHF.PK), has taken a large stake in troubled Canadian company Research in Motion (RIMM +2.6%). Watsa is known for betting against financial firms (and making billions) ahead of the financial meltdown and taking Fairfax from $4/share in the mid-1980s it to more than $400/share today. (submitted by Devon Shire) |Friday, Jan 272012, 9:47 AM| 4 Comments
Friday, Jan 272012, 9:36 AM
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Friday, Feb 132009, 3:25 PM