I don't think they are buying "US". I think they are buying Argonaut and we just go along for the ride based on the arbritage(sic) value.
I am not complaining. I did sell a portion of my PDG and diversified my portfolio some. Retained 80 percent though so still have a good number of irons in this fire.
I do find the premise of an AR takeover very promising as we could well have a nice ride based on the premium.
Onward and Upward