Deals
Loeb Reinsurer Cites Lesson of Failed Marriages in Shunning M&A
- Stars are aligned for more deals, Third Point Re CEO Says
- Berger warns not to be mesmerized by 20% of deals that work
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Third Point Reinsurance Ltd., co-founded by hedge-fund manager Dan Loeb, likened the risk of mergers and acquisitions to picking a spouse without being aware of how much can go wrong.
“Just like marriage, in M&A the 20 percent that work are so beautiful it inspires us all" in the industry about the possible benefits of finding a partner, Chief Executive Officer John Berger said Wednesday at a conference. However, “50 percent of marriages end in divorce.”