Exor offers 6.4 billion USD for the purchase of PartnerRe

According to a statement issued on April 14, 2015 by Exor, the Agnelli holding would be willing to provide 6.4 billion USD for the acquisition of PartnerRe that is 130 USD per share.

The Exor offer is 16% higher than the one indicated during the merger between PartnerRe and Axis Capital.

Another advantage of the Exor offer, the transaction would be settled in cash contrary to payment by exchange of securities planned by Axis.

Partner Re has not released a definitive answer to this proposal, but ensures that the board of directors will review the offer and will make their choice in the interest of the company and its shareholders.

As a reminder, Axis Capital and PartnerRe had announced their merger earlier this year. The cumulative premiums of the two entities would amount to 10 billion USD making of the new structure the fifth largest reinsurer.