Fairfax Financial makes bid for Canada Toys stores: WSJ

Fairfax Financial Holdings Ltd has offered to buy the Canadian stores of Toys “R” Us out of bankruptcy for US$300 million, the Wall Street Journal reported.

The offer is subject to higher bids; the sale would also include Canadian business’ intellectual property, including its brands, the story said.

Update: Toronto-based Fairfax is the holding company of Canadian billionaire Prem Watsa.

Reuters this week reported a U.S. bankruptcy judge authorized the sale of Toys “R” Us Canada to Fairfax for US$237 million ($304 million).