NEW YORK — Canada’s Fairfax Financial Holding has placed a bid of $300 million to buy Toys R Us’s Canadian operations in bankruptcy.<\/p>\n
According to court papers filed late Thursday, the bidder is taking on a role of a “stalking horse” in a court-approved auction set for Monday in New York. That means it could be outbid in the auction if other buyers come in with a higher offer. The bid from Fairfax surpassed the $215 million offer that Isaac Larian, the CEO of privately held toy company MGA Entertainment, along with several other investors, made last week.<\/p>\n
Larian, along with other investors, has also offered $675 million to buy 274 U.S. stores.<\/p>\n
In March, Toys R Us said it would be liquidating its U.S. business.<\/p>\n
Fairfax is a holding company involved in property and casualty insurance and reinsurance and investment management.<\/p>\n","protected":false},"excerpt":{"rendered":"
NEW YORK — Canada’s Fairfax Financial Holding has placed a bid of $300 million to buy Toys R Us’s Canadian operations in bankruptcy. According to court papers filed late Thursday, the bidder is taking on a role of a “stalking horse” in a court-approved auction set for Monday in New York. That means it could […]<\/p>\n","protected":false},"author":578,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/6421"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/578"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=6421"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/6421\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=6421"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=6421"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=6421"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}