PartnerRe Comments on EXOR’s Proposal
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BMO Capital Downgrades PartnerRe (PRE) to Market Perform
April 16, 2015 4:11 PM EDTBMO Capital downgraded PartnerRe (NYSE: PRE) from Outperform to Market Perform with a price target of $130.00 (from $122.00).
Analyst Charles Sebaski commented, "On Tuesday, Exor S.p.A., a European investment firm, made a $130 per share all cash offer for PartnerRe, which corresponded to an approximately 16% premium to the merger terms with AXIS Capital. When we upgraded PartnerRe to Outperform from Underperform on March 26, we cited... More
PartnerRe (PRE) Affirms Receipt of Unsolicited Proposal from EXOR; Will Review
April 14, 2015 2:46 PM EDTPartnerRe (NYSE: PRE) announced that it has received an unsolicited proposal from EXOR (EXO IM), a European investment company controlled by the Agnelli family, to acquire 100% of the common shares of the company for $130.00 per share in cash, valuing PartnerRe at $6.4 billion.
As was... More
