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Fairfax Financial to buy Zenith National Insurance

Roberto Ceniceros

February 18, 2010 Reprints

P/C Insurers Workers Comp Coverage More + Less -

WOODLAND HILLS, Calif.—Fairfax Financial Holdings Ltd. will acquire Woodland Hills, Calif.-based workers compensation insurer Zenith National Insurance Corp., the companies said Thursday.

The companies said the transaction is expected to close in the second quarter and Zenith National will continue to operate from its Woodland Hills headquarters as a wholly owned unit of Toronto-based Fairfax, which owns other insurance units such as Crum & Forster Insurance Co.

The transaction is subject to approval by Zenith National stockholders and regulators, the companies said in a statement.

The transaction would total approximately $1.4 billion, based on $38 per share that Zenith National stockholders would receive.

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Fairfax Financial to buy Zenith National Insurance

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