Toronto-based Fairfax Financial Holdings Limited announced today that it has obtained all requisite regulatory approvals and closed its previously announced issuance of US $300 million of subordinate voting shares (2,406,741 shares) to a number of institutional investors, including Markel Corporation ($100 million) and Southeastern Asset Management ($150 million).
“The completion of this equity offering was a closing condition of Fairfax’s debt tender offer and $200 million debt offering, previously announced on November 18, 2004 and December 3, 2004, respectively,” said the announcement.
Both the tender offer and the debt offer are expected to close December 21, 2004.
Topics USA
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