NormR Posted April 22, 2010 Share Posted April 22, 2010 Zenith National Investors Lose Bid to Halt Buyout Link to comment Share on other sites More sharing options...
Viking Posted April 22, 2010 Share Posted April 22, 2010 I found the underlined part of this quote in the article to be very interesting... If true and FFH continues to grow BV and insurance pricing remains soft looks to me that meaningful share repurchase are likely... "Watsa, referred to as the “Buffett of the North” by publications such as Forbes magazine, will take over Zenith’s assets, valued at $2.4 billion at Dec. 31, and add them to the $29.8 billion Fairfax already manages. He told Fairfax shareholders at the company’s annual meeting today the insurer doesn’t need to make any more acquisitions." Link to comment Share on other sites More sharing options...
NormR Posted April 22, 2010 Author Share Posted April 22, 2010 I found the underlined part of this quote in the article to be very interesting... If true and FFH continues to grow BV and insurance pricing remains soft looks to me that meaningful share repurchase are likely... "Watsa, referred to as the “Buffett of the North” by publications such as Forbes magazine, will take over Zenith’s assets, valued at $2.4 billion at Dec. 31, and add them to the $29.8 billion Fairfax already manages. He told Fairfax shareholders at the company’s annual meeting today the insurer doesn’t need to make any more acquisitions." FFH's prior 20%+ buybacks were mentioned at the meeting as a tantalizing possibility. Oh, and a $25 dividend. ;D (Just don't expect either real soon.) Link to comment Share on other sites More sharing options...
Crip1 Posted April 22, 2010 Share Posted April 22, 2010 Well, that's good news, if for no other reason that the lawfirms involved for the plaintiffs will not receive squat. Also...from the article Watsa, 59, is acquiring Zenith as part of a bet on a rebound in a workers’ compensation market pressured by rising medical costs and falling payrolls. Why the hell does the financial press incessantly refer to strategic moves as "bets"? It annoys me to no end. -Crip Link to comment Share on other sites More sharing options...
omagh Posted April 22, 2010 Share Posted April 22, 2010 Norm, I didn't attend this year. Who mentioned the share buybacks? Shareholder question or Watsa response? -O I found the underlined part of this quote in the article to be very interesting... If true and FFH continues to grow BV and insurance pricing remains soft looks to me that meaningful share repurchase are likely... "Watsa, referred to as the “Buffett of the North” by publications such as Forbes magazine, will take over Zenith’s assets, valued at $2.4 billion at Dec. 31, and add them to the $29.8 billion Fairfax already manages. He told Fairfax shareholders at the company’s annual meeting today the insurer doesn’t need to make any more acquisitions." FFH's prior 20%+ buybacks were mentioned at the meeting as a tantalizing possibility. Oh, and a $25 dividend. ;D (Just don't expect either real soon.) Link to comment Share on other sites More sharing options...
NormR Posted April 22, 2010 Author Share Posted April 22, 2010 Who mentioned the share buybacks? Shareholder question or Watsa response? Watsa response to a buyback question. Link to comment Share on other sites More sharing options...
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