Bermuda Supreme Court Deny EXOR Request

June 6, 2015

The AXIS/EXOR/PartnerRe business matter continues, with EXOR confirming that the Supreme Court of Bermuda has denied EXOR’s request to obtain customary beneficial ownership information from PartnerRe and saying they will “actively solicit PartnerRe’s common and preferred shareholders to vote against the AXIS transaction.”

“Despite PartnerRe’s refusal to provide the requested information, EXOR will actively solicit PartnerRe’s common and preferred shareholders to vote against the AXIS transaction at the PartnerRe Special General Meeting on July 24, 2015 in light of EXOR’s superior all-cash $137.50 per share binding offer for PartnerRe,” the company said.

“EXOR believes that PartnerRe’s position impedes its own shareholders from being fully and correctly informed of their options in a further attempt by the PartnerRe Board to protect the inferior AXIS transaction. EXOR’s superior offer clearly affords substantial benefits to PartnerRe common and preferred shareholders as well as employees.”

In commenting on the ruling, PartnerRe Ltd. said, “EXOR’s application has been denied and EXOR has been ordered to pay PartnerRe’s costs. We are pleased with this outcome.”

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  1. Cranberry says:

    Trouble up mill…