T.O.R.S.T.A.R.teddybear1111 - fairfax's recent increase of ts.b shares is not necessarily linked to an outcome of failed privatization talks as nothing, to my knowledge, was officially announced in this regard. fairfax is however, in my view, definitely concerned that its stake in torstar is well below water, just alike a great many shareholders, that it took a bold move at $1.25, knowing that there is a deadlock in approaching torstar to achieve a takeover or a privatization of the company. one has to observe here that should fairfax would be in the know about a torstar takeover or privatization, it would not have gone ahead and purchase additional shares at $1.25, as it would be violating securities regulations by doing so, after obtaining privileged informations. so, to put it in perspective, fairfax's increase of ts.b shares is a clear indication that there is a stalemate opposing fairfax and torstar's management/board of directors and voting trusts. in this context, the theory of failed privatization talks is likely the case. fairfax must therefore consider a takeover bid as it has no other alternative. As for possible court challenges, they would occur obviously once an offer is on the table. i wouldn't want to determine the price of such offer, but based on the current ts.b share price, i am not anticipating something significant.