BUZZ-Pethealth Inc: Fairfax Financial to buy company

Tue Sep 2, 2014 11:38am EDT
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** Canadian pet insurer's shares rise as much as 26.2 pct to 11-year high of C$2.79, second biggest percentage gainer on TSX

** To be bought by Fairfax Financial Holdings Ltd, Canadian property and casualty insurer run by Prem Watsa, for C$100 mln in cash

** Offer price of C$2.79 per share represents a 26 pct premium to Friday close

** Pethealth CEO Mark Warren, who owns about 9.7 pct stake in the company, votes against the deal

** In aggregate, shareholders holding a 52.7 pct stake in the company have agreed to vote for the deal

** Up to Friday's close, the shares had risen 22.1 pct this year