Fairfax Confirms Scheduled Expiry Time of Tender Offer for Odyssey Re Shares
October 16 2009 - 5:02PM
Marketwired
(Note: All dollar amounts in this release are expressed in U.S.
dollars.)
Fairfax Financial Holdings Limited (TSX: FFH)(NYSE: FFH)
confirms that the scheduled expiry time for its previously
announced $65 per share cash tender offer for all of the
outstanding shares of common stock of Odyssey Re Holdings Corp.
(NYSE: ORH) that it does not currently own, subject to the terms of
that offer, remains 12:00 midnight, New York City time, on October
21, 2009 in light of today's decision by the Superior Court of
Connecticut denying an application to temporarily restrain and
enjoin that offer.
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.
Important Information
This announcement is for informational purposes only and does
not constitute an offer to purchase or a solicitation of an offer
to sell Odyssey Re common stock. Odyssey Re stockholders are
advised to read Fairfax's Tender Offer Statement on Schedule TO
(and any amendments thereto), including Fairfax's Offer to Purchase
(and any amendments thereto), Odyssey Re's
Solicitation/Recommendation Statement on Schedule 14D-9 (and any
amendments thereto) and other documents relating to the tender
offer that have been or may be filed with the Securities and
Exchange Commission (the "SEC") and securities regulatory
authorities in Canada because they will contain important
information. Anyone may obtain copies of these documents when
available for free at the SEC's website at www.sec.gov and at the
Canadian Securities Administrators' website at www.sedar.com, or by
calling Innisfree M&A Incorporated, the Information Agent for
the offer, at 1-888-750-5834.
This press release includes certain forward-looking statements.
Such forward-looking statements are subject to known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievements of Fairfax or Odyssey Re to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
statements. Such factors include, among others, the possibility
that the Fairfax offer could be withdrawn or not consummated, the
outcome of any legal proceedings that have been or may be
instituted relating to the proposed transaction, the effect of the
announcement on Odyssey Re's customer relationships, operating
results and business generally. Such factors also include, but are
not limited to, the risks and uncertainties described in Fairfax's
most recently issued Annual Report, which is available at
www.fairfax.ca, in Fairfax's Base Shelf Prospectus (under "Risk
Factors") filed with the SEC and securities regulatory authorities
in Canada, which is available at www.sec.gov and www.sedar.com, and
in Odyssey Re's filings including its Annual Report on Form 10-K
for the year ended December 31, 2008, which have been filed with
the SEC and securities regulatory authorities in Canada and are
available at www.sec.gov and www.sedar.com. Fairfax and Odyssey Re
disclaim any intention or obligation to update or revise any
forward-looking statements, except as required by law.
Contacts: Fairfax Financial Holdings Limited Greg Taylor Chief
Financial Officer (416) 367-4941 Media Contact: Fairfax Financial
Holdings Limited Paul Rivett Chief Legal Officer (416) 367-4941
Fairfax (NYSE:FFH)
Historical Stock Chart
From Apr 2024 to May 2024
Fairfax (NYSE:FFH)
Historical Stock Chart
From May 2023 to May 2024