We are investigating whether the directors of Argo Group International Holdings, Ltd. (NYSE: ARGO) (“Argo”) acted in the best interests of Argo shareholders in approving the sale of Argo to Brookfield Reinsurance (“Brookfield”) for $30.00 per share in cash.
If you remain an Argo shareholder and have questions about your legal rights, you may contact our firm to discuss your options at no charge by completing and submitting the form below.
Why is there an investigation?
On February 8, 2023, Argo announced that it had agreed to be acquired by Brookfield for $30.00 per share in cash. The agreement has been approved by the Argo board of directors (“Board”).
“Our investigation concerns whether Argo’s Board acted in the best interests of Argo shareholders in approving the sale,” explained Joshua Fruchter, one of the firm’s name partners. “This includes whether the acquisition price adequately compensates Argo shareholders, and whether all material information regarding the transaction has been fully disclosed.”
Notably, the deal price is well below the 52-week high of $51.87 per share at which Argo closed on February 8, 2022, which suggests that Brookfield may be taking advantage of the temporary market downturn to acquire Argo at an unfair price.