08:02 AM EDT, 07/22/2024 (MT Newswires) -- Sleep Country Canada Holdings ( SCCAF ) on Monday agreed to be acquired by a Fairfax Holdings (FFH.TO) subsidiary in a deal with an enterprise value of about $1.7 billion.

Fairfax will pay $35 per share in cash, a 34% premium to the 20-day volume-weighted average price for the period ending on July 19. The price is also a 28% premium to the $27.28 closing price on July 19.

Sleep Country shares will be delisted from the Toronto Stock Exchange after closing, which is expected in the fourth quarter.