12:30 PM EST - Fairfax Financial Holdings Ltd. : announced Friday it commenced an underwritten public offering to sell 9 million shares of Odyssey Re Holdings Corp. The company said it will grant the underwriters an option to purchase up to 1.35 million additional common shares of common stock to cover over-allotments. Fairfax, which will retain a majority stake in Odyssey Re after the proposed offering, plans to use the proceeds for general corporate purposes, which may include repurchases of its outstanding debt or shares. Fairfax Financial Holdings Ltd.
shares T.FFH are trading down 85 cents at $212.05.
