Exor Raises PartnerRe Offer in ‘Final’ Push to Beat Axis Bid

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(Bloomberg) -- Exor SpA upped the ante in the takeover battle for PartnerRe Ltd., raising its bid by 5.8 percent to overcome a rival offer from Axis Capital Holdings Ltd. “Exor’s binding offer clearly delivers superior value for PartnerRe shareholders,” Exor Chairman and Chief Executive Officer John Elkann said in a statement. “We hope the PartnerRe board agrees and does the right thing.”

Exor SpA upped the ante in the takeover battle for PartnerRe Ltd., raising its bid by 5.8 percent in a final push to beat out rival Axis Capital Holdings Ltd. for control of the reinsurer.

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