Fairfax launches equity financing after Brit offer
Fairfax Financial Holdings has launched a C$650m (£337m) equity financing in light of the positive impact of its recommended cash offer for specialist insurer Brit on 17 February.
Fairfax has agreed with a syndicate of underwriters, led by BMO Capital Markets, that they would buy one million subordinate voting shares at $650 each. The offering is expected to close on 3 March.
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