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Italy's EXOR Offers $6.4 Billion for PartnerRe in Threat to AXIS Deal
2015-04-14 21:05:26| Automakers - Topix.net
EXOR SpA offered $6.4 billion for PartnerRe Ltd., seeking to break up the reinsurer's planned merger with AXIS Capital Holdings Ltd. EXOR, controlled by the Agnelli family, is offering $130 a share in cash, the company said in a statement Tuesday, or 16 percent above the implied value per share of Bermuda-based PartnerRe under the terms of the AXIS agreement. An AXIS-PartnerRe combination would create the world's fifth-biggest property and casualty reinsurer, and was announced in January , the same month that XL Group plc agreed to buy Catlin Group Ltd. for about $4 billion.
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Category:Automotive
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