- Amended Statement of Ownership: Solicitation (SC 14D9/A)
19 10월 2009 - 7:00PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14D-9
(Amendment No. 3)
Solicitation/Recommendation Statement under Section 14(d)(4)
of the Securities Exchange Act of 1934
ODYSSEY RE HOLDINGS CORP.
(Name of Subject Company)
ODYSSEY RE HOLDINGS CORP.
(Names of Person(s) Filing Statement)
Common Stock, $0.01 Par Value Per Share
(Title of Class of Securities)
67612W108
(CUSIP Number of Class of Securities)
Donald L. Smith
Senior Vice President, General Counsel
and Corporate Secretary
Odyssey Re Holdings Corp.
300 First Stamford Place
Stamford, Connecticut 06902
(203) 977-8024
(Name, Address and Telephone Number of Person Authorized to Receive
Notice and Communications on Behalf of the Person(s) Filing Statement)
With a copy to:
Peter J. Gordon, Esq.
Simpson Thacher & Bartlett LLP
425 Lexington Ave
New York, NY 10017-3754
(212) 455-2605
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Check the box if the filing relates solely to preliminary communications made before the
commencement of a tender offer.
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TABLE OF CONTENTS
1
This Amendment No. 3 (this
Amendment No. 3
) amends and supplements the
Solicitation/Recommendation Statement on
Schedule 14D-9
initially filed with the U.S. Securities
and Exchange Commission on September 30, 2009, by Odyssey Re Holdings Corp., a Delaware corporation
(the
Company
) (as amended or supplement from time to time, the
Schedule 14D-9
). The Schedule
14D-9 relates to the cash tender offer by Fairfax Investments USA Corp. (
Merger Sub
), a Delaware
corporation and a wholly owned subsidiary of Fairfax Financial Holdings Limited (
Fairfax
and
together with its subsidiaries, the
Fairfax Group
), a company incorporated under the laws of
Canada, to purchase all of the Companys outstanding Common Stock, other than those shares of
Common Stock held by the Fairfax Group, at a price of $65.00 per share, net to
the seller in cash (the
Offer Price
), without interest thereon and less any applicable withholding of taxes, upon the
terms and subject to the conditions set forth in the Offer to Purchase dated September 23, 2009
(the
Offer to Purchase
), and the related Letter of Transmittal (which, together with any
amendments or supplements thereto, constitute the
Offer
).
Capitalized terms used but not otherwise defined herein have the meanings ascribed to such
terms in the Schedule 14D-9.
ITEM 8. ADDITIONAL INFORMATION.
Item 8 of the Schedule 14D-9 is herby amended and supplemented by deleting the text under the
heading Litigation and adding the following:
On October 7, 2009, the directors of the Company, the Company (as a nominal defendant),
Fairfax and Merger Sub (collectively, the
Defendants
) were served with a purported stockholder
derivative and class action complaint, dated October 7, 2009, filed in the Superior Court of
Connecticut, Judicial District of Stamford/Norwalk (the
Court
). The action, captioned
CapGrowth
Partners v. V. Prem Watsa, et al.
, Docket No. CV09-6002152-S (the
CapGrowth Complaint
), purports
to assert claims against the members of the Companys board of directors for alleged breaches of
their fiduciary duties to the Companys stockholders in connection with the Offer, the Merger and
the other transactions contemplated by the Merger Agreement, and a claim against Fairfax and Merger
Sub for allegedly aiding and abetting such alleged breaches of fiduciary duties. The CapGrowth
Complaint seeks, among other relief, a declaratory judgment and monetary and/or rescissory damages.
The plaintiff also sought, by separate application, a temporary restraining order, expedited
discovery and a temporary injunction as to the Offer and Merger. The Defendants believe that the
claims made in the CapGrowth Complaint are without merit and intend to vigorously defend against
this action.
On October 14, 2009, the Court held a hearing on the plaintiffs motion for expedited
injunctive relief.
On October 16, 2009, the Court issued a Memorandum of Decision Re: Plaintiffs Application for
a Temporary Restraining Order, Expedited Discovery and Temporary Injunction (the
Memorandum of
Decision
) denying the plaintiffs application for a temporary restraining order, expedited
discovery and temporary injunction.
The CapGrowth Complaint and the Memorandum of Decision are filed as Exhibits (a)(5)(A) and (a)(5)(B), respectively, to and incorporated in the Schedule
14D-9.
ITEM 9. EXHIBITS.
Item 9 of the Schedule 14D-9 is hereby amended and supplemented by adding the following:
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(a)(5)(B)
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Memorandum of Decision Re: Plaintiffs Application for a Temporary Restraining
Order, Expedited Discovery and Temporary Injunction, dated October 16, 2009.
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2
SIGNATURE
After due inquiry and to the best of its knowledge and belief, the undersigned certifies that
the information set forth in this statement is true, complete and correct.
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ODYSSEY RE HOLDINGS CORP.
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By:
Name:
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/s/ Donald L. Smith
Donald L. Smith
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Title:
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Senior Vice President, General Counsel and
Corporate Secretary
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Dated: October 16, 2009
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