On April 29, 2010, Shareholders of Zenith National Insurance Corp. (ZNT) voted concerning the
proposed merger with a subsidiary of Fairfax Financial Holdings Limited. The merger was approved
and subsequently consummated on May 20, 2010. As a result, each existing ZNT Common Share
will be converted into the right to receive $38.00 net cash per share.
This action will be coordinated with the Options Clearing Corporation.
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