The Financial Post reports in its Tuesday, May 6, edition that the Keg Royalties Income Fund has signed a letter of intent to be acquired by Fairfax Financial Holdings, its largest unitholder. A Canadian Press dispatch to the Post reports that the proposal for $18.60 per unit in cash values the steak house fund at about $211-million. Keg units closed at $14.22 on the Toronto Stock Exchange on Friday and were trading up more than 26 per cent after markets opened Monday. Fairfax holds just over a 50 per cent interest in the fund, according to data provided by LSEG Data & Analytics. The fund said its largest unitholder other than Fairfax, which holds a 14.6-per-cent interest on an undiluted basis, has agreed to support the proposed transaction, subject to certain customary conditions. The fund noted the letter of intent is not a definitive agreement, which remains subject to, among other things, a formal valuation and fairness opinion, various regulatory, court and stock exchange approvals, and approval at a special meeting of the unitholders.