Billionaires are dueling over Geoffrey the Giraffe.

Prem Watsa, the “Canadian Warren Buffet,” has filed a stalking-horse bid, to acquire the Canadian Toys ‘R’ Us unit for $237 million.

The offer, which will form the opening bid in a possible auction set for next week, is roughly $22 million more than what US billionaire Isaac Larian offered, according to court documents.

Watsa’s Toronto firm, Fairfax Financial Holdings, agreed to continue operating the bankrupt chain under its current name and to acquire its 82 stores.

Larian, who founded privately held toy company MGA Entertainment, also submitted a $675 million bid to buy the US Toys ‘R’ Us operation.

The bankrupt toy chain this week rejected Larian’s bid for the US stores.

The US toy tycoon said he would combine the US and Canadian operations. The Fairfax offer is for just the Canadian unit.

Wayne, NJ-based Toys ‘R’ Us filed for bankruptcy protection in September. In March, it asked for permission to begin liquidating its US operation.