Would-be merger partners Axis and PartnerRe said they would sweeten the deal for shareholders in a bid to stave off a hostile bid by Italian investment giants Exor.
And the two Bermuda companies said on Friday that meetings of shareholders in the two firms to vote on the deal would be delayed by two weeks as a result.
A statement issued jointly by the two firms said: “PartnerRe and Axis Capital are committed to ensuring that common and preferred shareholders benefit materially from the combination of the two companies.
“The companies will communicate enhancements to their amalgamation agreement in the near-term.”
But the statement added that “there can be no assurance that the companies will reach agreement on any enhancements to the terms of their amalgamation agreement”.
Full content: The New York Times
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
ConocoPhillips Acquires Marathon Oil for $22.5 Billion in Major Energy Sector Consolidation
May 29, 2024 by
CPI
Judge Denies Amazon’s Bid to Dismiss FTC Lawsuit Over Prime Membership Practices
May 29, 2024 by
CPI
Germany and France Advocate for Major EU Competition Reform
May 29, 2024 by
CPI
Equifax Accused of Monopolizing Employment Verification Market in New Suit
May 29, 2024 by
CPI
Car Battery Makers to Challenge EU Cartel Charges in Brussels
May 29, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Merger Guidelines Retrospective
May 21, 2024 by
CPI
Mergers of Complements
May 21, 2024 by
CPI
Personality Traits, Private Equity, and Merger Analysis
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Lessons in the Importance of Incipiency, Modern Economics, and Monopsony
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Sharpening Merger Analysis
May 21, 2024 by
CPI