ARGO - Argo Group jumps after confirming it's exploring strategic alternatives

Argo Group (NYSE:ARGO) rose 7.1% in premarket trading after the insurance company said its board has started an exploration of strategic alternatives, including a potential sale or merger. Argo (ARGO) also announced it's postponed the company's annual meeting until the second half of the year, according to a statement. The board believes it's in shareholders best interest to conduct a strategic review prior to the annual meeting. Argo has retained Goldman Sachs as  its financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP as its legal counsel to assist in the review process. The report comes The Insurer reported earlier this month that insurer is looking to hire a new advisor as it explores a number of sales options.

For further details see:

Argo Group jumps after confirming it's exploring strategic alternatives