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UK: Exor sweetens $6.8 billion bid for PartnerRe again

 |  July 20, 2015

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

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