Hashtag: #AXISPartnerReMerger

European Commission Approve Pending Merger

European Commission Approve Pending Merger

AXIS Capital Holdings Limited and PartnerRe Ltd. have received antitrust clearance from the European Commission with respect to the definitive amalgamation agreement that the two Bermuda-based companies announced on January 25, 2015. “AXIS Capital and PartnerRe have now received all competition-related approvals required for the completion of... Read more of this article

Sandell Asset: “Best Interests Of Shareholders”

Sandell Asset: “Best Interests Of Shareholders”

The AXIS/EXOR/PartnerRe business matter continues, with Sandell Asset Management Corp issuing a public letter to the Chairman of PartnerRe Board expressing concern “that, with respect to the EXOR offer, certain actions of the Board of PartnerRe Ltd. did not appear to have been in the best interests of PartnerRe shareholders.” “While... Read more of this article

EXOR “Willing To Negotiate In Good Faith”

EXOR “Willing To Negotiate In Good Faith”

EXOR S.p.A., one of Europe’s leading listed investment companies and the largest shareholder of Bermuda-based PartnerRe Ltd., said “it is willing to negotiate in good faith to provide PartnerRe shareholders with improved closing certainty with regards to its binding all-cash $137.50 offer. “EXOR is prepared to commence these discussions... Read more of this article

PartnerRe Prepared For ‘Discussions’ With EXOR

PartnerRe Prepared For ‘Discussions’ With EXOR

Bermuda-based PartnerRe Ltd. said its Board of Directors has “determined that it is prepared to engage in discussions with EXOR S.p.A. to determine whether EXOR’s offer, received on May 12, 2015, to acquire all of the outstanding common shares of PartnerRe for $137.50 per share in cash can be improved so that it is compelling, on price and... Read more of this article

PartnerRe Confirms Receipt Of EXOR Proposal

PartnerRe Confirms Receipt Of EXOR Proposal

Bermuda-based PartnerRe Ltd. confirmed that it has received a revised offer from EXOR to acquire all of the outstanding common shares of the company for $137.50 per share in cash. The company said, “Consistent with its fiduciary duties and subject to the existing merger agreement with AXIS Capital, PartnerRe’s Board of Directors, in consultation... Read more of this article

EXOR Announce Another Offer For PartnerRe

EXOR Announce Another Offer For PartnerRe

EXOR, one of Europe’s leading listed investment companies, today [May 12] announced another offer to buy Bermuda-based PartnerRe Ltd, with the offer to acquire all of the outstanding common shares of PartnerRe for $137.50 per share in cash, valuing PartnerRe at $6.8 billion. Earlier this month, PartnerRe Ltd. announced that it rejected the first... Read more of this article

EXOR Still “Committed” To Offer For PartnerRe

EXOR Still “Committed” To Offer For PartnerRe

EXOR said it “notes the decision by the Board of Directors of PartnerRe Ltd. to abandon its prior agreement and accept a revised but still inferior transaction from AXIS Capital Holdings Limited in preference to EXOR’s own proposal.” Yesterday PartnerRe, a Bermuda-based re/insurer, reaffirmed its commitment to the planned merger with... Read more of this article

PartnerRe Reaffirms Commitment: AXIS Merger

PartnerRe Reaffirms Commitment: AXIS Merger

Bermuda-based PartnerRe Ltd. today [May 4] announced that its Board of Directors has rejected the unsolicited proposal by EXOR to acquire PartnerRe. PartnerRe said, “The Company further reaffirmed its commitment to the planned merger with AXIS Capital Holdings Limited and announced enhanced merger terms that allow PartnerRe to pay a one-time... Read more of this article

EXOR: $6.4 Billion Proposal To Buy PartnerRe

EXOR: $6.4 Billion Proposal To Buy PartnerRe

[Updated] EXOR, an Italian company controlled by the Agnelli family, today [April 14] submitted a written proposal to the Board of Directors of Bermuda-based PartnerRe Ltd. to acquire 100% of the common shares of the company for $130.00 per share in cash, valuing PartnerRe at $6.4 billion. A statement from the company said, “EXOR’s all-cash... Read more of this article

AXIS, PartnerRe: HSR Amalgamation Clearance

AXIS, PartnerRe: HSR Amalgamation Clearance

AXIS Capital Holdings Limited and PartnerRe Ltd. announced that they have received early termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 with respect to the definitive amalgamation agreement that the companies announced on January 25, 2015. The expiration of the waiting period satisfies one... Read more of this article

Fitch Places AXIS On Rating Watch Positive

Fitch Places AXIS On Rating Watch Positive

Fitch Ratings has placed the ‘A+’ Insurer Financial Strength [IFS] ratings of AXIS Capital Holdings Ltd. and its operating subsidiaries on Rating Watch Positive following its announced merger with PartnerRe Ltd. [PRE]. The ratings agency said, “Today’s affirmation follows the announcement that AXIS Capital entered into a definitive... Read more of this article

AXIS & PartnerRe To Combine In $11B Merger

AXIS & PartnerRe To Combine In $11B Merger

Two more Bermuda re/insurers are set to merge, with AXIS Capital Holdings Limited and PartnerRe Ltd. today announcing that they have signed a “definitive amalgamation agreement to create one of the world’s preeminent specialty insurance and reinsurance companies, with gross premiums written in excess of $10 billion, total capital of more than... Read more of this article