CANADA (Reuters) – Fairfax Financial Holdings Ltd, a Canadian property and casualty insurer, said it would buy Brit Plc, a specialty insurer and reinsurer, for about $1.88 billion to gain a significant presence in the Lloyds of London market.Brit shareholders will receive 305 pence in cash per share, including any final dividend for the year ended Dec. 31. Fairfax said it expects Brit to pay a final dividend of 25 pence per share for the year ended Dec. 31.The offer price of 305 pence per share represents a premium of 11.2 percent to Brits closing price on Feb. 16.Investor Prem …read more
Source: Dunya TV
