Edition:
United States

Fairfax Financial Holdings Ltd (FFH.TO)

FFH.TO on Toronto Stock Exchange

622.06CAD
2 Dec 2016
Change (% chg)

$-15.54 (-2.44%)
Prev Close
$637.60
Open
$639.84
Day's High
$641.80
Day's Low
$620.12
Volume
63,504
Avg. Vol
35,973
52-wk High
$780.13
52-wk Low
$587.51

Latest Key Developments (Source: Significant Developments)

Fairfax announces acquisition of shares of Cara Operations Limited
Friday, 10 Apr 2015 05:05pm EDT 

Fairfax Financial Holdings Limited:Acquires, directly and through its subsidiaries, ownership of an aggregate of 19,903,378 multiple voting shares of Cara Operations Limited.Says of these shares, 19,294,453 were acquired upon the exercise of warrants previously issued by Cara and upon the tender of 27,848,425 class A preferred shares of Cara, 17,418,505 class B preferred shares of Cara and $26,125,000 principal amount of subordinated debentures of Cara.In addition, 608,925 multiple voting shares were acquired from existing shareholders of Cara in private transactions agreed to before Cara became a reporting issuer, exempt from the take-over bid requirements of applicable securities laws, and at a price of $23.00 per share.  Full Article

Fairfax Financial Holdings Limited announces quarterly dividend
Tuesday, 3 Mar 2015 05:05pm EST 

Fairfax Financial Holdings Limited:Declares a quarterly dividend of C$0.286125 per share on its Series C Preferred Shares, C$0.25212 per share on its Series D Preferred Shares, C$0.296875 per share on its Series E Preferred Shares.Also declares C$0.3125 per share on its Series G Preferred Shares, C$0.3125 per share on its Series I Preferred Shares and C$0.3125 per share on its Series K Preferred Shares.Payable on March 31 to shareholders of record on March 17.Also determined that the quarterly dividend rate in respect of the April 1 to June 29, 2015 dividend period.Dividend for the Series D Preferred Shares, calculated in accordance with the Series D share conditions, will be 0.891863 pct and dividend for such dividend period, if and when declared, will be C$0.22297 per share.  Full Article

Fairfax Financial Holdings Ltd increases senior notes issue
Monday, 23 Feb 2015 02:00am EST 

Fairfax Financial Holdings Ltd:Says an increase in the size of its offering of senior notes due 2025 from $300 million to $350 million.Fairfax intends to use the net proceeds of the notes offering, the subordinate voting share offering and the preferred share offering to partially fund the previously announced proposed acquisition of all of the issued and to be issued shares of Brit plc.  Full Article

Fairfax Financial Holdings increases senior notes offering to $350 mln
Friday, 20 Feb 2015 05:11pm EST 

Fairfax Financial Holdings Limited:Announces an increase in the size of its offering of Senior Notes due 2025 from $300 million to $350 million in aggregate principal amount, to be priced at $99.114 per $100 principal amount of Senior Notes.Senior Notes are being offered through a syndicate of dealers led by BMO Capital Markets, RBC Capital Markets and Scotiabank.Senior Notes will be unsecured obligations of Fairfax and will pay a fixed rate of interest of 4.95pct per annum.Intends to use the net proceeds of the Notes Offering, the Subordinate Voting Share Offering and the Preferred Share Offering to partially fund the previously announced proposed acquisition of all of the issued and to be issued shares of Brit plc.Says if the acquisition is not completed, it intends to use the net proceeds from the offerings to augment its cash position, to increase short-term investments and marketable securities held at the holding company level.Says it also intends to refinance or retire outstanding debt and other corporate obligations of Fairfax and its subsidiaries from time to time, and for general corporate purposes.Notes Offering, the Subordinate Voting Share Offering and the Preferred Share Offering are expected to close on or about March 3.  Full Article

Fairfax Financial Holdings announces senior notes issue
Friday, 20 Feb 2015 10:36am EST 

Fairfax Financial Holdings Limited:Issues C$300 million in aggregate principal amount of Senior Notes due 2025 on a bought deal basis to a syndicate of underwriters led by BMO Capital Markets, RBC Capital Markets and Scotiabank.Intends to use the net proceeds of the Notes Offering, the Preferred Share Offering and the Subordinate Voting Share Offering to partially fund the previously announced proposed acquisition of all of the issued and to be issued shares of Brit plc.Says if acquisition is not completed, it intends to use the net proceeds from offerings to augment its cash position, to increase short-term investments and marketable securities held at holding company level.Says it also intend to refinance or retire debt and other corporate obligations of it and its subsidiaries from time to time, and for general corporate purposes.Notes Offering is expected to close on or about March 3.  Full Article

Fairfax Financial Holdings announces preferred share issue
Friday, 20 Feb 2015 10:15am EST 

Fairfax Financial Holdings Limited:Issues in Canada 8 million Preferred Shares, Series M at a price of C$25.00 per share, for aggregate gross proceeds of C$200 million, on a bought deal basis to a syndicate of Canadian underwriters led by BMO Capital Markets, RBC Capital Markets and Scotia Capital Inc.Grants the underwriters an option, exercisable in whole or in part at any time on the date that is two business days prior to the closing date, to purchase up to an additional 2 million Preferred Shares, Series M at the same offering price for additional gross proceeds of C$50 million.Intends to use the net proceeds of the Preferred Share Offering and the Subordinate Voting Share Offering to partially fund the previously announced proposed acquisition of all of the issued and to be issued shares of Brit plc.Raises additional funding for the acquisition of Brit plc through possible future debt issuances.Says if acquisition is not completed, it intends to use net proceeds from offerings to augment its cash position, to increase short-term investments and marketable securities held at holding its level.Says it also intends to refinance or retire outstanding debt and other corporate obligations of Fairfax and its subsidiaries from time to time, and for general corporate purposes.Preferred Share Offering is expected to close on or about March 3.  Full Article

Fairfax Financial Holdings Limited announces C$650 mln bought deal financing
Thursday, 19 Feb 2015 05:00pm EST 

Fairfax Financial Holdings Limited:Enters into an agreement with a syndicate of underwriters led by BMO Capital Markets, under which the underwriters have agreed to buy on a bought deal basis 1,000,000 Subordinate Voting Shares, at a price of C$650.00 per Subordinate Voting Share for gross proceeds of C$650 mln.Offering is expected to close on March 3.Intends to use the net proceeds to partially fund the previously announced proposed acquisition of all of the outstanding shares of Brit PLC.May raise additional funding for the acquisition of Brit through possible future debt and/or preferred share issuances.Says there can be no assurance that the acquisition of Brit will be completed.Says if the acquisition is not successfully completed, Fairfax intends to use the net proceeds to augment its cash position, to increase short-term investments and marketable securities held at the holding company level.And uses to refinance or retire outstanding debt and other corporate obligations of Fairfax and its subsidiaries from time to time, and for general corporate purposes.  Full Article

Fairfax Financial Holdings Ltd to Acquire Brit PLC
Monday, 16 Feb 2015 11:30pm EST 

Fairfax Financial Holdings Ltd:Says that it has reached an agreement with Brit PLC to acquire all of the outstanding shares of Brit.Under the terms of Fairfax's offer for the Brit Shares, Brit shareholders will be entitled to receive 305 pence in cash per Brit Share, inclusive of any final dividend for the year ended Dec. 31, 2014.Fairfax has received hard irrevocable undertakings to accept the Offer at the Brit Offer Price from entities managed by Apollo and CVC in respect of, in the aggregate, a total of about 294 million Brit Shares representing about 73 pct. of Brit's issued share capital.  Full Article

Fairfax Financial Holdings Ltd to acquire Ukrainian Insurer
Tuesday, 3 Feb 2015 05:05pm EST 

Fairfax Financial Holdings Ltd:Says it has entered into agreement with QBE Management (Ireland) Limited and its Ukrainian partner to acquire QBE's insurance operations in Ukraine.transaction is subject to customary closing conditions, including various regulatory approvals, and is expected to close by second quarter of 2015.QBE's Ukrainian business was established in 1998 as first international insurer operating in the country.  Full Article

Fairfax declares annual dividend
Monday, 5 Jan 2015 08:30am EST 

Fairfax Financial Holdings Limited:Declares dividend of $10.00 per share on its outstanding multiple voting and subordinate voting shares.Payable on Jan. 27, to shareholders of record on Jan. 20.  Full Article

Fairfax cuts equity hedging, sees U.S. rally after Trump win

TORONTO, Nov 11 Fairfax Financial Holdings Ltd , a Canadian firm headed by high-profile investor Prem Watsa, said on Friday it planned to significantly reduce its defensive equity hedges due to Donald Trump winning the U.S. presidential election.