RE:FAIRFAX WILL DEFINITELY NOT PAY A HIGH PREMIUM FOR TORSTARHi modulex,
Fairfax has to satisfy only the A shareholders and so the day-to-day market price matters nothing to the Voting Trust. Sure they'd like to see $30 again, but that's never going to happen in anyone's lifetime.
The Voting Trust has to get to the point where they've exhausted every excuse possible and the spectre of an Eaton's or Asper's outcome in their future will drive them ultimately to a privatization solution.
These aren't particularly greedy people - they are simply clueless and are lead by a Machiavellian chair who is desperately clinging to perceived power. Watsa needs to nudge them to a decision point, but he needs to respect their need to feel like they are leaving with dignity and on their own terms. Fairfax made a significant investment last November and has a plan. Everyone is frustrated, but this will end soon.