EXOR Signs Definitive Agreement To Acquire PartnerRe For $6.9 Billion
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Axis Capital (AXS) Will Receive $315M Break-up Fee on Termination of PartnerRe (PRE) Deal
August 3, 2015 7:26 AM EDTAxis Capital (NYSE: AXS) announced that it has accepted a request from PartnerRe Ltd. (PartnerRe) (NYSE: PRE) to terminate the amalgamation agreement with AXIS Capital. PartnerRe will pay AXIS Capital a $315 million fee to immediately terminate the amalgamation agreement, which was originally entered into by both companies on January 25, 2015. The special meeting of AXIS Capital shareholders, which was scheduled for August 7, 2015, has been cancelled.
Michael A. Butt, Chairman of the AXIS Capital Board of Directors, said, Prior to PartnerRe reaching out to us last December to discuss a... More
