Fairfax Financial Holdings Limited and First Mercury Financial Corporation announced that First Mercury’s stockholders today voted in favor of Fairfax’s acquisition of First Mercury for $16.50 per share in cash. Over 99% of the votes cast, representing approximately 85% of the shares of First Mercury common stock issued and outstanding, were in favor of adoption of the merger agreement.
Fairfax Financial Holdings Limited announces that it has declared a dividend of US$10.00 per share on its outstanding multiple voting and subordinate voting shares, payable on January 26, 2011 to shareholders of record on January 19, 2011. Applicable Canadian withholding tax will be applied to dividends payable to non-residents of Canada.
Fairfax Financial Holdings Limited has filed a final short form base shelf prospectus with securities regulatory authorities in Canada and the United States. The shelf prospectus allows Fairfax to offer from time to time over a 25-month period up to US$2.0 billion of debt, equity or other securities.
Fairfax Financial Holdings Limited announces that it has declared a quarterly dividend of C$0.359375 per share on its Series C Preferred Shares, C$0.296875 per share on its Series E Preferred Shares, C$0.3125 per share on its Series G Preferred Shares and C$0.29795 per share on its Series I Preferred Shares.
Fairfax Financial Holdings Limited announced today that it has entered into a share purchase agreement pursuant to which it will acquire all of the shares of Malaysian insurer, The Pacific Insurance Berhad, for approximately US$64 million. Subject to the approval of the shareholders of the vendor, PacificMas Berhad, the transaction is expected to close in the first quarter of 2011.
Fairfax Financial Holdings Limited has filed a preliminary short form base shelf prospectus with the Canadian securities regulatory authorities.
Fairfax Financial Holdings Limited will hold a conference call at 8:30 a.m. Eastern Time on Friday, October 29, 2010 to discuss its 2010 third quarter results which will be announced after the close of markets on Thursday, October 28 and will be available at that time on its website www.fairfax.ca.
Fairfax Financial Holdings Limited has completed its previously announced public offering of Preferred Shares, Series I (the “Series I Shares”) in Canada. As a result of the underwriters’ exercising in full their option to purchase an additional 2,000,000 Series I Shares, Fairfax has issued 12,000,000 Series I Shares for gross proceeds of $300 million. Net proceeds of the issue, after commissions and expenses, are approximately $291 million.