There was to be an auction this month and the 19 $B holdings firm, Fairfax Financial, had made the inaugural bid of $300M, ensuring that the Canadian division would not be sold for less. As it turns out, no other bid was accepted so Fairfax Financial has become the owner. For those unaware, Fairfax is a Toronto based firm founded by Prem Watsa, who is often referred to as Canada's Warren Buffet. He is also the current CEO. Like Buffet's Berkshire Hathaway, many of their holdings are value based but they seem to be more concentrated on insurance, aquiring insurance companies based around the globe (the head office in Toronto only houses 30 of its 8,200 employees). They have a habit of buying companies on the verge of bankruptcy at a good but fair price, which is something they previously did with Blackberry and Carillion Canada (an infrastucture service company).
The Fairfax name itself is a portemanteu for "fair, friendly acquisitions" and this is evident in its bid for Toysrus Canada which was higher (and thus more fair) than what toy mogul Isaac Larian had previously bid. In the end, this is great news for fans who liked how things were so far in Canada. Toysrus being bought by a holdings firm (which is only seeking diversification in its portfolio) simply means that they see value in the company and thus everything points to business as usual as far as Canadian stores are concerned.
So hopefully that means Canadian fans can still expect to see shelves like this once in a while.