12:07 PM EST - Fairfax Financial Holdings Ltd. : said that it intends to make a formal offer to acquire all of the outstanding common shares of Northbridge, other than those shares it already owns, for $39 per share in cash. The transaction will involve 36.9% of Northbridge's shares and the aggregate cash payment would be about $686 million. Following the completion of the proposed transaction, Northbridge would become a wholly-owned subsidiary of Fairfax. Fairfax Financial Holdings Ltd.
shares T.FFH are trading up $1.37 at $361.37.
