$FFH.TO

Andrew Peller To be Acquired by Fairfax

Andrew Peller Limited (ADW-A.TO and ADW-B.TO), a Canada producer and marketer of wines and craft beverage alcohol products, entered Monday into a definitive arrangement agreement that will see Fairfax Financial (FFH.TO) acquire all of its issued and outstanding Class A Non-Voting shares and Class B Voting shares for cash consideration of C$8.00 and $12.00 each respectively.The transaction represents an aggregate fully diluted equity value of approximately $397 million and $579 million on an enterprise value basis, in each case excluding the impact of rollover shares, it said.

Fairfax Completes US$750-Milliion Senior Notes Offering

Fairfax Financial Holdings Limited (FFH.TO) after the close Monday said it completed its private offering of US$750 million in principal amount of 6.200% senior notes due 2056.The company said it intends to use proceeds of this offering for general corporate purposes.According to the statement, the offering was made solely by means of a private placement either to qualified institutional buyers pursuant to Rule 144A under the U.S. Securities Act of 1933, as amended, or to certain non-U.S. persons in offshore transactions pursuant to Regulation S under the Securities Act.The company shares closed up C$32.06 to C$2,252.77 on Toronto Stock Exchange.

Fairfax Financial Holdings Announces Acquisition of Additional Orla Mining Ltd Common Shares

Fairfax Financial Holdings (TSX: FFH and FFH.U) has acquired, through its insurance company subsidiaries, around 26.58 million common shares of Orla Mining Ltd (OLA.TO) resulting from the conversion of an aggregate amount of US$150 million principal amount of senior unsecured convertible notes of Orla, which were converted into common shares of Orla upon the election of Fairfax at a conversion price per common share of C$7.90 pursuant to the terms of the notes, the company said on Monday.The conversion shares represent approximately 7.1% of the issued and outstanding common shares of Orla and brings Fairfax's total holdings, through its insurance subsidiaries, of Orla's securities to around 58.39 million common shares and around 17.54 million warrants, which allow Fairfax to acquire up to around 17.54 million common shares at an exercise price of C$11.50 per warrant, representing approximately 15.7% of the issued and outstanding common shares (on a non-diluted basis) and approximately 19.5% of the issued and outstanding common shares (on a partially-diluted basis, assuming exercise of the warrants), stated the company."Fairfax holds the Common Shares and Warrants for investment purposes and in the future, it may discuss with management and/or the board of directors of Orla any of the transactions listed in clauses (a) to (k) of item 5 of Form 62-103F1 of National Instrument 62-103 - The Early Warning System and Related Take-over Bid and Insider Reporting Issues and it may further purchase, hold, vote, trade, dispose or otherwise deal in the securities of Orla, in such manner as it deems advisable to benefit from changes in market prices of Orla securities, publicly disclosed changes in the operations of Orla, its business strategy or prospects or from a material transaction of Orla, and it will also consider the availability of funds, evaluation of alternative investments and other factors," added the company.

Fairfax Financial Has Priced a Private Offering of US$750M In Senior Notes Due 2056 at An Issue Price of 100%

Fairfax Financial Completes Sale of Portion of its Interest in Poseidon Corp.

Fairfax Financial Reports Lower Q1 Net Earnings

Fairfax Financial Holdings (FFH.TO) reported lower first quarter net earnings on Thursday after trade.The company said net earnings fell to US$695.7 million, or US$31.11 per diluted share, compared with a year-prior profit of US$945.7 million, or US$42.70. Fairfax reported net losses on investments of US$385.9 million, compared with a gain of US$1.05 billion last year.Adjusted operating income of US$1.21 billion, compares with the US$685.5 million in the year-prior quarter. Fairfax credited the improvement to better underwriting performance, increased share of profit of associates and increased interest and dividend income.Fairfax shares closed up $4.26 to $2,350.67 on the Toronto Stock Exchange.

Earnings Flash (FFH.TO) Fairfax Financial Q1 Net Earnings of US$695.7M or $31.11 Net EPS

Fairfax Financial Holdings to Redeem Senior Notes Due Dec. 16, 2026

Fairfax Financial Holdings (FFH.TO) will redeem its 4.70% senior notes due Dec. 16, 2026 on May 29, the company said after trade on Wednesday.Fairfax will pay a redemption price of 100.465% of the principal amount of the notes, plus accrued and unpaid interest. There is $450 million principal amount of notes currently outstanding.Fairfax shares closed up $5.43, to $2,346.41 on the Toronto Stock Exchange.

RBC Expects "Resilient" Q1 Results From P&C Sector

RBC Capital Markets expects "resilient" first-quarter results from the property and casualty (P&C) insurance sector, but does not believes the results will be enough to change currently subdued investor sentiment on the sector.Analyst Bart Dziarski raised his price target on Fairfax Financial (FFH.TO) to US$2,261.00 from US$2,234.00 primarily reflecting the Poseidon transaction, and maintained an outperform rating. He believes the current valuation does not reflect the positive momentum in Fairfax's underwriting operations and investment portfolio."We expect Fairfax's underwriting results to remain strong in a favourable (albeit slowing) pricing environment where Fairfax has a historical track record of opportunistic growth. Fairfax's investment portfolio has been re-positioned to take advantage of the current interest rate environment driving improving investment results which we expect to continue," he wrote. Dziarski expects the P/B valuation discount vs. peers to narrow as Fairfax continues to consistently deliver solid operating results.As for the diversified financials sector, Dziarski remains cautious on goeasy (GSY.TO) and will look for updates on goeasy remediating issues within the LendCare portfolio, both regarding internal controls/financial reporting and charge-offs/loan losses. "We believe resolution of the foregoing is important for sentiment to improve."He is maintaining an underperform rating and $33.00 price target on goeasy. Dziarski does not expect management's 3-point action plan to take hold until 2028+ and sees downside risk to valuation as investors reassess the durability of book value and the company's ability to stabilize credit performance.Price: $2482.26, Change: $+25.42, Percent Change: +1.03%