Fairfax Offers OdysseyRe Common Shares

Odyssey Re Holdings Corp. announced Friday the completion of an underwritten public offering by Fairfax Financial Holdings Limited of 9 million OdysseyRe common shares. Priced at $34.60 per share, the offering resulted in net proceeds to Fairfax of approximately $300 million. Fairfax has granted the underwriters an option to purchase up to 1,350,000 additional shares of common stock to cover any over-allotments. The offering was jointly led by Citigroup Corporate and Investment Banking and Wachovia Capital Markets. Fairfax, which continues to own a majority of OdysseyRe shares after the ...