In its latest move, Italian investment company Exor has revealed plans to speak to PartnerRe shareholders at an investor meeting.
The meeting, which will take place on July 7, 2015 in New York, will see John Elkann, chairman and chief executive officer of Exor, discuss Exor’s offer for $137.50 per share.
“Exor will also discuss how its ownership of PartnerRe will create greater security and stability for PartnerRe preferred shareholders going forward. Exor believes its offer is clearly superior to the Axis transaction and looks forward to communicating directly with shareholders at the meeting,” said the company.
In January, the boards of PartnerRe and Axis Capital had agreed an $11 billion merger, but a rival bid from Exor for the reinsurer potentially scuppered these plans. Since then, a sort of war has broken out between the boards of Exor, PartnerRe and Axis.
Exor, Axis Capital, PartnereRe, Mergers & Acquisitions, Europe, Bermuda, North America