EXOR Files Proxy Materials With SEC To Oppose PartnerRe-AXIS Deal - Quick Facts

(RTTNews) - EXOR S.p.A. (EXOSF.PK), one of Europe's leading listed investment companies and the largest shareholder of PartnerRe Ltd. (PRE), announced it has filed a definitive proxy statement with the U.S. SEC in opposition to the proposed merger transaction with AXIS Capital Holdings Limited (AXS) which is recommended by the PartnerRe Board. EXOR strongly recommended preferred and common Shareholders of PartnerRe to vote against the AXIS transaction to protect the value of their investment.

EXOR stated that under its ownership, PartnerRe will remain an independent company, conservatively operated by its current, outstanding management team. The company said the AXIS deal is riskier for PartnerRe Preferred Shareholders because their securities will remain outstanding in an amalgamated company with higher leverage, increased business risks and more aggressive capital management than the EXOR transaction.

On June 1, EXOR filed a lawsuit in the Supreme Court of Bermuda seeking to obtain customary beneficial ownership information from PartnerRe in order to facilitate direct communication with PartnerRe shareholders.