The “go shop” provision in the takeover deal of reinsurance firm PartnerRe by Italian investment giant Exor yesterday expired.

The deal gave PartnerRe — which had previously agreed a merger deal with Axis Capital — around two months to find another buyer.

A statement from PartnerRe said: “An extensive outreach was conducted by Credit Suisse and Lazard, acting as PartnerRe’s co-financial advisers.

“None of the third parties contacted during this process provided a proposal or offer regarding an alternative acquisition proposal.”

Now the deal is expected to close in the first quarter of next year, subject to a PartnerRe shareholder vote, closing conditions and regulatory approval.

A special general meeting for PartnerRe shareholders to vote on the deal is expected to be held towards the end of this year.