RE:FAIRFAX IN NO HURRY TO BID FOR TORSTARYes, Fairfax wrote-off its earlier investment in Torstar, but just 6 months ago they invested another $11.8 million in B shares and own 40.6% of all the B shares. I don't believe their plan is to take the Voting Trust to court to wrestle control of the Company at a fire sale price.
Fairfax will wait until cash becomes scarce and the Voting Trust finally comes to their senses to make a fair deal in which the Atkinson Principles are enshrined for the future. At the same time, Fairfax will also have a deal with Postmedia in their back pocket to save them from themselves as they are much closer to the brink than Torstar.
I don't know if $7 is the number they arrive at, but it will be in that range as any fairness opinion will agree the current share value is very much undervalued.