Deal Overview
Buyer | Argonaut Group, Inc |
Actual Acquirer | Argonaut Group, Inc |
Target | Front Royal, Inc. |
Deal Type | Insurance Company |
Insurance Sector | Property & Casualty |
Agreement Date | 07/05/2001 |
Announcement Date | 07/05/2001 |
Announced Deal Value ($M) | 167.50 |
Announced Deal Value as Reported ($M) | NA |
LTM Revenue ($000) | 464,919 |
Status | Completed |
Announced Deal Value Per Share ($) | 19.17 |
Completion Date | 08/23/2001 |
Deal Pricing Ratios
Announcement | Completion | |
---|---|---|
Price / Earnings (x) | 8.5 | 13.4 |
Price / Book (%) | 198.1 | 182.1 |
Price / Statutory Net Income (x) | NA | NA |
Price / Capital & Surplus (%) | NA | NA |
Price / Operating Income (x) | NA | NA |
Price / Operating Income (x) | NA | NA |
Price / Net Premiums Written (x) | NA | NA |
Deal Terms
Argonaut Group Inc. paid $167.5 million in cash, including $2.5 million in future contingent payments. |
|
Percent Acquired (%) | 100.00 |
Accounting Method | Purchase |
Merger of Equals | No |
Estimated Cost Savings (%) | NA |
Estimated Cost Savings ($000) | NA |
Est. Restructuring Charges ($000) | NA |
Deal Advisors
Financial Advisors | |
Party Advised | Firm Name |
---|---|
Buyer | Merrill Lynch & Co. Inc. |
Seller | J.P. Morgan Securities LLC |
Legal Counsel | |
Party Advised | Firm Name |
---|---|
Buyer | Mayer Brown LLP |
Seller | Brooks Pierce McLendon |