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PartnerRe

Reinsurance

PartnerRe and Axis seek tax ruling certainty

Would-be merger partners Axis Capital and PartnerRe yesterday said their deal was better than a rival bid for PartnerRe by Italian investment giant Exor. A joint statement by the two Bermuda-based companies said that their $11 billion all-share trans...
Jul 23, 2015
Reinsurance

PartnerRe board to talk with Exor

The board of takeover target PartnerRe yesterday did a U-turn and admitted an improved bid by Italian investment firm Exor was likely to be a “superior proposal” to its merger plan with Axis Capital. The Bermuda-based insurer said it was prepared to ...
Jul 22, 2015
Reinsurance

Exor ups the stakes in PartnerRe bidding war

Italian investment giant Exor today upped the stakes in a poker game for control of Bermuda reinsurer PartnerRe. Exor has added a $3 per share dividend sweetener to its $137.50 a share bid for control of the firm. The move brings the value of Exor’s ...
Jul 20, 2015
Reinsurance

Axis and PartnerRe sweeten merger deal

Axis and PartnerRe have boosted the special dividend for PartnerRe’s common shareholders to $17.50 if they back a merger deal. And the two firms also pledged to match an offer to preferred shareholders by Italian investment firm Exor, who have launch...
Jul 16, 2015
Reinsurance

Axis, PartnerRe issue profit estimates

Would-be merger partners Axis and PartnerRe yesterday both unveiled predicted financial results for the second quarter of the year. Axis said it expected to announce operating income of between $91 million and $97 million for the three-month period, ...
Jul 14, 2015
Reinsurance

PartnerRe shareholder attacks board

A US-based asset management firm yesterday slammed the board of takeover target PartnerRe for their handling of a bid by Italian investment giants Exor. And Tom Sandell, the CEO of Sandell Asset Management, has written to PartnerRe chairman Jean-Paul...
Jul 10, 2015
Reinsurance

Ex-PartnerRe CEO Thiele backs Exor bid

Italian investment group Exor yesterday pledged to make reinsurance firm PartnerRe bigger if it successful in its $6.8 billion takeover bid. The firm’s chairman and CEO John Elkann said: “We are business builders. If you look at our history, we have ...
Jul 08, 2015
Reinsurance

Exor petitions PartnerRe employees

Italian investment giant Exor has petitioned employees at takeover target PartnerRe to back its bid for the company. Exor has written to workers at the Pembroke-based company who are also shareholders asking them to vote against a rival bid by Axis, ...
Jul 07, 2015
Reinsurance

Exor says PartnerRe misleading shareholders

Italian investment firm Exor will carry on meetings with target takeover PartnerRe’s analysts and investors as part of its $6.8 billion bid to take over the firm. And Exor accused PartnerRe — which is backing a merger with Axis Capital over Exor’s of...
Jun 24, 2015
Reinsurance

PartnerRe board seeks support for Axis deal

PartnerRe chiefs yesterday said it would be “irresponsible” to ditch its merger deal with Axis Capital in favour of a takeover bid by an Italian investment company. And the PartnerRe board said that a successful Exor bid would lead to “exposing Partn...
Jun 23, 2015
Reinsurance

PartnerRe accuses Exor of ‘false statements’

Reinsurance firm PartnerRe yesterday urged its shareholders to back a merger with rival Axis Capital — and accused hostile bidder Exor of “misleading or outright false statements”. The attack on the Italian investment firm, which launched a $6.8 bill...
Jun 18, 2015
Reinsurance

Exor accuses PartnerRe of ‘scare tactics’

Investment firm Exor accused Bermuda takeover target PartnerRe of using “scare tactics” to boost votes for a rival bid by Axis Capital. Yesterday’s move came after PartnerRe told preferred shareholders that the debt taken on by Exor as part of its $6...
Jun 17, 2015
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