Mergers & Acquisitions
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Our M&A lawyers are among the most experienced and effective in the world. We represent many of the world's largest publicly traded and privately held companies, as well as leading private equity firms, hedge funds, financial advisors and other financial institutions and investors on their most important mergers, acquisitions and takeover transactions.
EXOR to Acquire PartnerRe for $6.9 Billion
- Client News
- August 3, 2015
Paul, Weiss client EXOR S.p.A., a leading investment company headquartered in Italy and controlled by the Agnelli family, announced the signing of a deal to acquire PartnerRe Ltd., a Bermuda-based global reinsurance company, for approximately $6.9 billion in cash. The signing of the transaction followed termination of a stock-for-stock merger transaction with AXIS Capital Holdings Ltd. that PartnerRe Ltd. had previously announced in January. EXOR made its unsolicited offer for PartnerRe on April 14, which was followed by counterbids from AXIS and additional enhancements from EXOR. The parties conducted a contested proxy solicitation and, following the recommendations of the two major proxy solicitation advisory firms against the AXIS transaction, EXOR and PartnerRe negotiated a resolution of the matter shortly prior to the PartnerRe shareholder vote on its proposed merger with AXIS. The transaction is expected to close by the first quarter of 2016, subject to customary closing conditions including shareholder and regulatory approvals.