Exor, the Agnelli family holding company which owns also the Fiat, focuses on the US insurance industry. The company has submitted a bid for the purchase of 100% of PartnerRe at a price of 130 dollars per share in cash, corresponding to an overall assessment of the company’s $ 6.4 billion. This offer may mess up the merger between the same PartnerRe and Axis Capital Holdings that would create the fifth reinsurance groups in the world.
It should be noted that the supply of Exor, on a friendly basis, involves a premium equal to 16% compared to the value of the shares of PartnerRe of $ 112.53 acknowledged the merger agreement between PartnerRe and Axis Capital Holdings.
“Compared to the merger with Axis (where only a consideration in shares) recognizes the shareholders of PartnerRe superior value and greater certainty because it is made entirely in cash; also has all the necessary financial resources, does not require any capital increase by Exor nor the approval of its shareholders, “said the parent of Chrysler Fiat Automobiles.
April 14, 2015 18:38 – Last Updated: 19:32
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