EMAIL TO BITOVE AND RIVETT Mr. Jordan Bitove
Mr. Paul Rivett
NordStar Capital LP
I am writing as a Torstar shareholder, which public company is being offered $0.63 per share in cash (the equivalent of $58M) to be acquired by NordStar Capital LP.
Torstar has approximately $70M in cash as of its last financial Quarter, which amount divided by its total number of shares (Class A and Class B combined), gives it a cash value of approximately $0.76 per share, to begin with.
Why is NordStar Capital LP getting Torstar's assets for free, when Torstar's book-value is in the low $2.00 range.
Why did Fairfax Financial Holdings Ltd. (Torstar's lead 40% Class-B shareholder) turned itself to NordStarCapital LP to acquire Torstar, on top of selling its 40% shares at a loss, rather than for Fairfax to act on its own and acquire Torstar independently?
The above are disturbing facts, warranting an investigation in order to find out if any illegal behaviours, such as briberies and so on occured between Fairfax Financial Holdings Ltd, NordStar Capital LP, Torstar Corporation Inc.'s officials and other parties? to exit Torstar
It is impossible that Torstar Corporation Inc, has strictly agreed to tender its Class-A and Class-B shares at $0.63, without any other monetary settlement involved, to exit Torstar.
It is furthermore impossible that Fairfax Financial Holdings Ltd. agreed to tender its 40% Class-B shares at $0.63, without any other financial agreement with NordStar Capital LP.
Conformingly