Fairfax Financial Holdings Limited and Zenith National Insurance Corp. have entered into a merger agreement in which Zenith will become a wholly owned subsidiary of Fairfax. Fairfax will acquire all of the outstanding shares of Zenith common stock it does not currently own. The transaction values Zenith at approximately $1.4 billion.
The transaction, subject to regulatory approval and a vote by Zenith stockholders, is expected to close in the second quarter of 2010.
