NEW YORK, Sept. 8, 2009 (GLOBE NEWSWIRE) -- Tripp Levy PLLC announces an investigation into the proposed acquisition of Odyssey Re Holdings Corp. (NYSE:ORH). On September 8, 2009, Fairfax Financial Holdings Ltd. announced that it is proposing to acquire all of the outstanding shares of common stock of ORH that it does not currently own for $60 per share in cash. Fairfax currently owns approx. 72.6% of all outstanding shares of common stock of ORH. Fairfax said that it has no interest in selling its controlling interest in ORH.
The investigation concerns whether the consideration to be paid to ORH shareholders is grossly unfair, inadequate, and substantially below the fair or inherent value of ORH. The investigation further concerns whether the directors of ORH, including any special committee members, may have breached their fiduciary duties by not acting in ORH shareholders' best interests in connection with the sale process of ORH.
If you are a current holder of ORH and would like additional information concerning this proposed transaction, including your rights, please feel free to contact us at the information below.