Fairfax agrees to purchase Toys R Us Canada

The investment firm, Fairfax Financial Holdings Ltd., has signed an agreement to buy the Canadian unit of Toys “R” Us Inc. for about C$300 million ($237 million).

The ‘stalking horse’ bid allows other potential buyers to enter competing proposals by Monday, according to a U.S. bankruptcy court filing submitted by Toys “R” on Thursday.

The deal would allow Toys R Us’ Canadian arm to continue trading, following Fairfax’s acquisition of athletic equipment maker Performance Sports last year.

Earlier this week, Toys R Us rejected MGA founder, Isaac Larian’s bid to keep some of the company’s European stores open.

About Robert Hutchins

Robert Hutchins is the editor of ToyNews and its sister title, Licensing.biz. He has worked his way from Staff Writer to Editor across the two titles, having spent almost eight years with both and what now seems like a lifetime surrounded by toys. You can contact him by emailing robert.hutchins@biz-media.co.uk or calling him on 0203 143 8780 You can even follow him on Twitter @RobGHutchins if ranting is your thing...

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