April 7, 1987
In an offer valued at $380.8 million, Clarendon Group Ltd., a privately held Bermuda-based firm, proposed acquiring Argonaut Group Inc. for $37 a share. Clarendon already owns about 540,000 of the 11.7 million common shares of the Los Angeles-based insurance holding company, which primarily sells and services worker's compensation insurance. The company was formed Oct. 1 as a result of a corporate spinoff by Teledyne, a Los Angeles conglomerate.
January 29, 1998 |
Argonaut Group Inc. said it hired Credit Suisse First Boston to examine merger opportunities. The Los Angeles-based company provides workers' compensation insurance and other forms of commercial coverage. Its shares rose 11% in the last 12 months, compared with a 35% gain in the Standard & Poor's index of property and casualty insurers. Chairman Henry Singleton said Argonaut's directors decided "to explore the alternatives available to enhance shareholder value." Shares rose $3.
April 9, 1998
* Pasadena-based EarthLink Network Inc. reported a first-quarter net loss of $6.4 million, or 56 cents per diluted share, compared with $8.4 million, or 92 cents, a year ago. * Los Angeles-based Argonaut Group Inc. reported first-quarter net income of $36.7 million, or $1.52 per diluted share, compared with $15.5 million, or 65 cents, a year ago. * Manhattan Beach-based Alexander Haagen Properties Inc.
April 26, 1994
Companies ranked by profit from continuing operations as a % of sales. Rank. Company: 1993 Return % 1. United Television Inc.: 33.6 2. Magma Power: 31.7 3. Franklin Resources Inc.: 27.8 4. Amgen Inc.: 27.3 5. Imperial Credit Indus.: 27.2 6. Intel Corp.: 26.1 7. Cisco Systems: 26.0 8. Linear Technology Corp.: 25.9 9. Pyxis Corp.: 25.5 10. Mercury General Corp.: 24.1 11. Brooktree Corp.: 23.8 12. Foothill Group: 23.1 13. Argonaut Group Inc.: 20.3 14. ALZA Corp.: 19.5 15. CVB Financial: 18.7 16.