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Italy: Investment firm makes $6.4 billion takeover bid for rival

By  |  April 14, 2015

Italian investment firm EXOR S.p.A said Tuesday that it has offered to buy PartnerRe in an all-cash deal that values the Bermuda-based reinsurer at $6.4 billion.

In January, Axis Capital and PartnerRe agreed to a near $11 billion merger to create one of the world’s largest reinsurers. The two have received early termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.

“Compared to the all-share combination with AXIS, it provides PartnerRe shareholders with superior value and greater certainty since it is all cash, fully financed, and does not require a capital increase by EXOR nor a vote by its shareholders,” EXOR said in a statement.

 

Full Content: Business Wire

 

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