Mitsui gets Fairfax on side

Mitsui Sumitomo's $1.6bn acquisition of Fairfax's First
Capital has demonstrated that the Japanese carrier is willing to
pay a substantial price for deals which could foster fruitful
strategic partnerships, rather than immediately transforming its
earnings profile.
Under theterms of the deal Mitsui will buy 97.7 percent
of First Capital's shares for $65.50 apiece, equivalent to 3.3x
book value.
Meanwhile, Fairfax will also retain a 25 percent quota share on
First Capital's existing and future bu