Brief: Brookfield Reinsurance To Acquire Argo In $1.1 Billion Transaction

Argo International Holdings

08/02/2023 13:52

Feb 8 (Reuters) - Argo Group International Holdings Ltd
 ARGO.N :
    * BROOKFIELD REINSURANCE TO ACQUIRE ARGO IN $1.1 BILLION
TRANSACTION
    * BROOKFIELD REINSURANCE LTD - BROOKFIELD REINSURANCE WILL
ACQUIRE
ARGO IN AN ALL-CASH TRANSACTION VALUED AT APPROXIMATELY $1.1
BILLION
    * BROOKFIELD REINSURANCE LTD- UNDER TERMS OF MERGER DEAL,
ARGO
AGREED TO SUSPEND PAYMENT OF DIVIDENDS ON ITS COMMON SHARES
THROUGH CLOSING OF TRANSACTION
    * BROOKFIELD REINSURANCE LTD - EACH OF BROOKFIELD
REINSURANCE'S
AND ARGO'S BOARDS OF DIRECTORS UNANIMOUSLY APPROVED MERGER
AGREEMENT
    * BROOKFIELD REINSURANCE LTD - EACH ISSUED AND OUTSTANDING
ARGO
COMMON SHARE WILL BE CONVERTED INTO RIGHT TO RECEIVE $30.00 IN
CASH AT CLOSING
    * BROOKFIELD REINSURANCE LTD - TRANSACTION IS NOT SUBJECT TO
ANY
FINANCING CONDITION OR CONTINGENCY
    * BROOKFIELD REINSURANCE LTD - EACH OF BROOKFIELD
REINSURANCE'S
AND ARGO'S BOARDS OF DIRECTORS UNANIMOUSLY APPROVED MERGER
AGREEMENT
    * BROOKFIELD REINSURANCE LTD - EACH OF BROOKFIELD
REINSURANCE'S
AND ARGO'S BOARDS OF DIRECTORS UNANIMOUSLY APPROVED MERGER
AGREEMENT
    * BROOKFIELD REINSURANCE LTD-UNDER TERMS OF MERGER
AGREEMENT, ARGO
AGREED TO SUSPEND PAYMENT OF DIVIDENDS ON COMMON SHARES THROUGH
CLOSING OF TRANSACTION

Source text for Eikon:  ID:nGNX3yLHcJ 
Further company coverage:  ARGO.N 
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