Short seller Muddy Waters has placed bets against the shares of Canadian insurer Fairfax Financial, which owns the majority share in Farmers Edge, alleging manipulation in the insurer's asset values.
Tag Archives Fairfax Financial
Farmers Edge owner Fairfax Financial shorted on alleged asset manipulation
Short seller's report doesn't describe nefarious accounting tactics, only potentially aggressive valuation marks, bank says
Farmers Edge to go private three years after IPO
Company’s majority holder to buy all shares at pennies on the dollar
Ag tech firm Farmers Edge has inked a deal with majority shareholder Fairfax Financial Holdings Limited to sell all common shares at 35 cents apiece, the company announced late yesterday.
Fairfax proposes takeover of Recipe dining group
Chains include The Keg, Swiss Chalet, Harvey's
Reuters — Recipe Unlimited Corp. said on Tuesday shareholder and investment firm Fairfax Financial Holdings has proposed to take the Canadian restaurant operator private for $1.23 billion, sending its shares up nearly 50 per cent. The offer price marks a premium of more than 53 per cent to Recipe’s last close. The shares have fallen […] Read more
Port of Churchill moves to 100 per cent local ownership
Corporate partners step out of owner group
MarketsFarm — The Port of Churchill is undergoing an ownership transition that will see its OneNorth community and Indigenous partners assume 100 per cent ownership of the Hudson Bay port and the rail line connecting it to northwestern Manitoba. The Churchill Marine Tank Farm and associated assets are also part of the deal, according to […] Read more
Churchill shipping resumes but grain still on back burner
MarketsFarm — The first cargo ship in two years left the northern Manitoba port of Churchill on Wednesday, moving supplies to communities in Nunavut. Rehabilitation efforts at North America’s only deep-water Arctic port are still underway, but there are expectations business through the facility will eventually include grain as well. OmniTrax, the previous owner of […] Read more
AGT privatization gets shareholders’ approval
The privatization of Canadian pulse processor AGT Food and Ingredients is set to move another step forward as company officials take their plan to Ontario’s Superior Court on Monday. The Feb. 11 court date in Toronto comes after AGT shareholders voted Tuesday at a special shareholders’ meeting in favour of privatization, according to a company […] Read more
AGT’s privatization to proceed
CNS Canada — AGT Food and Ingredients has announced a definitive agreement to take the publicly-traded Saskatchewan pulse and durum processing and export firm private. If all conditions are met, the deal is expected to go through in the first quarter of 2019. The buyer group, including AGT CEO Murad Al-Katib, Fairfax Financial Holdings Limited […] Read more
AGT sees ‘further port access’ in Hudson Bay deal
The grain industry player in a deal to restore and restart the Hudson Bay Railway and Port of Churchill has factored the port’s access to Arctic tidewater into its business plan. Regina-based pulse processor AGT Food and Ingredients is one of the members of the Arctic Gateway Group, which on Friday confirmed a deal to […] Read more
The Keg to merge into Swiss Chalet, Harvey’s parent
Major Canadian steakhouse chain The Keg is set to merge into Cara Operations, the parent for dining chains such as Swiss Chalet, Harvey’s, St-Hubert and Milestones, in a $200 million cash-and-stock deal. The two companies said Tuesday a merger will afford them “synergistic opportunities in marketing, real estate and overall costs that will help further […] Read more
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