Originally Posted by
OMGitworks OK, I will tell you, in HIS OWN WORDS. We know why he chose to delist, he told us and it has NOTHING to do with any tin foil hat manipulation theories.
He doesn't cite fraud or manipulation, only that the need for and administrative costs for being listed there is not worth it. Fairfax is a relative newcomers to the NYSE having only been listed for 7 years.
"After our recent privatization of Odyssey Re, Fairfax now wholly owns all of its primary businesses and is the largest property and casualty insurance company based in Canada, with worldwide operations in over 50 countries," chief executive officer Prem Watsa said in a news release Thursday. "While our decentralized operations have global reach, after reviewing the factors relevant to our continued listing on the NYSE, we determined that our company and its shareholders will be better served by the simplified focus and lower cost resulting from the maintenance of only our original TSX listing."
"In recent years, as markets have become significantly more global and liquid, our constituents, including shareholders and employees, no longer require multiple listings," Mr. Watsa said.