Argo shares up on potential sale but activist rails against “ineffective board”

Shares in Argo initially traded up almost 8 percent this morning after the Bermudian confirmed it had appointed Goldman Sachs to run a strategic review that could lead to a sale, but activist investor Ron Bobman said it was the latest example of the carrier’s board acting “either too late or too little” as he criticised the postponement of its annual general meeting until later this year.