Deal Overview
| Buyer | Argonaut Group, Inc. |
| Actual Acquirer | Argonaut Group, Inc. |
| Target | PXRE Group Ltd. |
| Deal Type | Insurance Company |
| Insurance Sector | Property & Casualty |
| Agreement Date | 03/14/2007 |
| Announcement Date | 03/14/2007 |
| Announced Deal Value ($M) | NA |
| Announced Deal Value as Reported ($M) | NA |
| LTM Revenue ($000) | 1,401,343 |
| Status | Completed |
| Announced Deal Value Per Share ($) | NA |
| Completion Date | 08/07/2007 |
Deal Terms
|
After giving effect to a one for ten reverse share split of Argo Group Intl Hldgs common shares, Argonaut Group common shareholders received 0.6484 shares of Argo Group Intl Hldgs for each common share of Argonaut Group. |
|
| 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 | J.P. Morgan Securities LLC |
| Seller | Keefe Bruyette & Woods Inc. |
| Legal Counsel | |
| Party Advised | Firm Name |
|---|---|
| Buyer | LeBoeuf Lamb Greene & MacRae |
| Seller | Sidley Austin LLP |
