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October 20, 2018, 02:58:29 AM

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Author Topic: Fairfax has made a $300 Million bid for TOYSRUS Canada  (Read 537 times)

Canadian Jedi

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Fairfax has made a $300 Million bid for TOYSRUS Canada
« on: April 20, 2018, 07:42:15 AM »

Fairfax has made a $300 Million dollar bid for Toysrus Canada.  Toysrus has until Monday to hear from any other bidders.   Some of the highlights of why Fairfax has made the bid are:  unlike the USA, Toysrus Canada is a profitable business also TOYSRUS Canada owns 22 of their 82 stores, so Fairfax is buying property that is worth $250 million and only paying an extra $50 million for the business.  This bid has set the bar for other people to beat.  The bid is what is called a "stalking horse bid" which allows other potential buyers to enter competing proposals by Monday. If another bid is presented, Fairfax would then have the option of either increasing its offer or walking away.  Earlier this week TOYSRUS rejected an offer from MGA Entertainment Inc.  Cross your fingers... this maybe the deal that saves TOYSRUS Canada.
« Last Edit: April 20, 2018, 07:45:14 AM by Canadian Jedi »
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Mandalore1988

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Re: Fairfax has made a $300 Million bid for TOYSRUS Canada
« Reply #1 on: April 20, 2018, 08:32:46 AM »

Hopefully it can be saved here in Canada. I'd hate to see Walmart and Maxi being the only places to find figures in Quebec. Maybe we'll see more competitive prices under a new owner.

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jjreason

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Re: Fairfax has made a $300 Million bid for TOYSRUS Canada
« Reply #2 on: April 20, 2018, 08:32:55 AM »

Is that enough money? Wasn't the talk theoretically somewhere in the neighbourhood of a billion dollar bid needed?
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Mandalore1988

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Re: Fairfax has made a $300 Million bid for TOYSRUS Canada
« Reply #3 on: April 20, 2018, 08:39:29 AM »

I think that was to buy most or all of the North American stores.

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DarthVader77

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Re: Fairfax has made a $300 Million bid for TOYSRUS Canada
« Reply #4 on: April 20, 2018, 11:38:21 AM »

Hopefully it can be saved here in Canada. I'd hate to see Walmart and Maxi being the only places to find figures in Quebec. Maybe we'll see more competitive prices under a new owner.

Amazing how far Canadian retail has sunk isn't it? It boggles the mind to think how many retailers we have lost in Canada where we used to buy our Star Wars stuff: Sears Canada, Eaton's, Zellers, Towers/Bonimart, Consumers Distributing, Toy City/Toyville, Simpsons, Woolworths, Woolco, W H Smith, Miracle Mart, Pascal, K Mart, Robinson-Ogilvy's, Woodwards, Toys & Wheels etc..
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Mandalore1988

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Re: Fairfax has made a $300 Million bid for TOYSRUS Canada
« Reply #5 on: April 20, 2018, 11:55:41 AM »

Hopefully it can be saved here in Canada. I'd hate to see Walmart and Maxi being the only places to find figures in Quebec. Maybe we'll see more competitive prices under a new owner.

Amazing how far Canadian retail has sunk isn't it? It boggles the mind to think how many retailers we have lost in Canada where we used to buy our Star Wars stuff: Sears Canada, Eaton's, Zellers, Towers/Bonimart, Consumers Distributing, Toy City/Toyville, Simpsons, Woolworths, Woolco, W H Smith, Miracle Mart, Pascal, K Mart, Robinson-Ogilvy's, Woodwards, Toys & Wheels etc..

The ones I had here in Montreal and the surrounding area were Sears, Eaton's, Zellers, and TRU. I remember the days of the full toy section in Sears in the 90's and being able to find a whole aisle of nothing but SW figures at Zellers up until they closed. Yeah, Canadian retail has really sunk. Hopefully TRU doesn't join them.

 :fett:
« Last Edit: April 20, 2018, 11:58:13 AM by Mandalore1988 »
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Canadian Jedi

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Re: Fairfax has made a $300 Million bid for TOYSRUS Canada
« Reply #7 on: April 30, 2018, 08:30:48 AM »

If Fairfax purchases other US and elsewhere stores, it looks like Canada could be come the head office for the Toysrus World Wide.   Makes sense if the Canadian operation, being widely distributed across a big country like Canada have figured out how to be profitable, that if they created similar "pods" across the US that they would have a good business model.

The model they have of Babies are us and Toysrus in the same store is a great idea.   People always need baby stuff after having their first kid and when they start to need toys they just cross over to the other side of the store.    In the US, I would often see these stores separated.

"TORONTO — Fairfax Financial Holdings Ltd.’s president Paul Rivett says its plans for Toys “R” Us are not limited to Canada, as it is exploring options to keep a foothold in the U.S. and elsewhere.

The Toronto-based company, whose $300-million stalking horse offer for the Canadian subsidiary of the toy retailer was approved in a U.S. court this week, is looking for stores outside of Canada it can potentially snap up.

“There’s pieces now we can invest in, pods of stores in the U.S., or elsewhere, and utilize the fact that they’ve got all the systems in Canada,” Rivett said in an interview Thursday after Fairfax’s annual general meeting of shareholders. "
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