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MILAN, May 21 (Reuters) – Exor is willing to negotiate with PartnerRe to finalize the purchase offer only after the board of the latter will have recognized that the its binding offer in cash is “superior” to that of rival Axis.
He says a note of Exor on a letter sent to the board of PartnerRe which confirms the binding offer worth $ 137.5.
“Exor urges the Board of PartnerRe recognize that its proposal in money can reasonably be higher,” the statement said.
“If not, Exor asks the Board to communicate the ‘record date’ and to convene a meeting of shareholders to allow them to decide in their best interest,” he added.
On 12 May, the holding company of the Agnelli family has increased the offer all cash on PartnerRe 6.8 to $ 6.4 billion, to $ 137.5 per share from 130 – after having announced to be the first shareholder with 9.32% stake – stressing that this is the final offer, according to a spokesman.
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