11:22 AM EST - Prime Restaurants Inc. : announced today that it has received an offer from Fairfax Financial Holdings Limited to acquire of all of the issued and outstanding class A limited voting shares and restricted share units of the Company by way of a plan of arrangement under Section 182 of the Business Corporations Act (Ontario). The total consideration payable by Fairfax under the Fairfax Offer is approximately $71 million, equivalent to $7.75 per Share or RSU. Under the Fairfax Offer, holders of Shares would receive $7.50 per Share in cash directly from Fairfax on the effective date. Prime Restaurants Inc.
shares T.EAT are trading up $0.67 at $7.60.
