21 July 2015Insurance

Exor drives PartnerRe and Axis back to the table

Italian investment company Exor has driven PartnerRe and Axis back to the table following its latest offer of a special pre-closing dividend to $3 per share.

The PartnerRe board said it has determined that the latest Exor proposal would reasonably be likely to result in a “superior proposal”.

This means PartnerRe will seek to engage in negotiations with Exor and offer the investment company the “opportunity to conduct due diligence, to determine whether the current offer can be improved both in its price and terms with respect to items previously identified”.

However, the board added that it continues to believe the amalgamation with Axis is superior “in value, terms and certainty of closing”.

“Following its review of Exor’s revised proposal, PartnerRe’s board of directors reaffirms its recommendation that shareholders vote ‘for’ the agreed amalgamation with Axis.


More on this story

Alternative Risk Transfer
29 November 2023   Axis CFO says the transaction will serve as a template for the cyber cat bond market.
Insurance
28 November 2023   Appointee was vice president of cybersecurity services for Zurich Resilience Solutions.
Insurance
9 November 2023   The insurer proposes to appoint former AXIS CEO to its board of directors.

More on this story

Alternative Risk Transfer
29 November 2023   Axis CFO says the transaction will serve as a template for the cyber cat bond market.
Insurance
28 November 2023   Appointee was vice president of cybersecurity services for Zurich Resilience Solutions.
Insurance
9 November 2023   The insurer proposes to appoint former AXIS CEO to its board of directors.

Intelligent Insurer
Newton Media Ltd
Kingfisher House
21-23 Elmfield Road
BR1 1LT
United Kingdom