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Prem Watsa Comments on Selling MEGA Brands

March 11, 2014 | About:
Holly LaFon

Holly LaFon

277 followers
It is with some sadness that we say farewell to MEGA Brands (TSX:MB), a leading global toy company run by the Bertrand family in Montreal, Canada. It is a made-in-Quebec success story that we assisted through the tough recessionary years. The Bertrands approached us with the request to sell to Mattel and as we have said in the past, we support management and the founders. Our cost for our MEGA shares is Cdn$9.88 per share and the Mattel offer is at Cdn$17.75 per share. All in, including our loss on our original convertible debentures, our profit will be Cdn$17 million.

From Prem Watsa (Trades, Portfolio)'s annual 2013 letter to shareholders.


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