Latest news with #FairfaxFinancialHoldingsLtd.
Hamilton Spectator
05-05-2025
- Business
- Hamilton Spectator
Fairfax Financial signs letter of intent to buy Keg Royalties Income Fund
VANCOUVER - The Keg Royalties Income Fund has signed a letter of intent to be acquired by Fairfax Financial Holdings Ltd., its largest unitholder. The proposal for $18.60 per unit in cash values the steak house fund at about $211 million. Keg units closed at $14.22 on the Toronto Stock Exchange on Friday and were trading up more than 26 per cent after markets opened today. Fairfax holds just over a 50 per cent stake in the fund, according to data provided by LSEG Data & Analytics. The fund said its largest unitholder other than Fairfax, which holds a 14.6 per cent stake on an undiluted basis, has agreed to support the proposed transaction, subject to certain customary conditions. The fund noted the letter of intent is not a definitive agreement, which remains subject to, among other things, a formal valuation and fairness opinion, various regulatory, court and stock exchange approvals, and approval at a special meeting of the unitholders. This report by The Canadian Press was first published May 5, 2025. Companies in this story: (TSX:
Winnipeg Free Press
05-05-2025
- Business
- Winnipeg Free Press
Fairfax Financial signs letter of intent to buy Keg Royalties Income Fund
VANCOUVER – The Keg Royalties Income Fund has signed a letter of intent to be acquired by Fairfax Financial Holdings Ltd., its largest unitholder. The proposal for $18.60 per unit in cash values the steak house fund at about $211 million. Keg units closed at $14.22 on the Toronto Stock Exchange on Friday and were trading up more than 26 per cent after markets opened today. Fairfax holds just over a 50 per cent stake in the fund, according to data provided by LSEG Data & Analytics. The fund said its largest unitholder other than Fairfax, which holds a 14.6 per cent stake on an undiluted basis, has agreed to support the proposed transaction, subject to certain customary conditions. The fund noted the letter of intent is not a definitive agreement, which remains subject to, among other things, a formal valuation and fairness opinion, various regulatory, court and stock exchange approvals, and approval at a special meeting of the unitholders. Monday Mornings The latest local business news and a lookahead to the coming week. This report by The Canadian Press was first published May 5, 2025. Companies in this story: (TSX:
