PartnerRe shareholders like to pick Axis Capital for merger: KBW analysts
Posted On: Jun. 5, 2015 12:00 AM CSTAnalysts at U.S.-based Keefe, Bruyette & Woods Inc. have said that shareholders of Bermuda-based PartnerRe Ltd. should, and probably will, vote in favor of its merger with Axis Capital Holdings Ltd., rather than with Italian investment firm Exor S.p.A., reports Artemis.bm.
KBW said that the PartnerRe and Axis combination is compelling enough to make PartnerRe's common shareholders reject the Exor cash offer. "While the vote will probably be close, we think that Axis will ultimately prevail," said KBW.