November 19, 2018 / 3:41 PM / a year ago

BUZZ-Stelco Holdings Inc: Rises after Fairfax Financial takes stake

** Canadian steelmaker’s shares up 5.2 pct at C$20.69

** Fairfax Financial Holdings, owned by Canadian billionaire Prem Watsa, buys an almost 14 pct stake in the steelmaker for C$250.1 million ($189.93 million)

** Buys over 12 mln shares of Stelco at C$20.50/shr, a premium of 4.2 pct to its Friday close

** Stock currently trading over the premium at which Fairfax bought the shares

** Up to Friday’s close, STLC down ~8 pct YTD ($1 = 1.3172 Canadian dollars) (Reporting by Bharath Manjesh in Bengaluru)

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