Hashtag: #AXISPartnerReMerger
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
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, 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 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
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
[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 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 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
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
