An investigation on behalf of investors of Partnerre Ltd (NYSE:PRE) in connection with the proposed takeover was announced and NYSE:PRE stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 08/17/2015 -- The Shareholders Foundation announced that an investigation on behalf of investors, who currently hold shares of Partnerre Ltd (NYSE:PRE), was launched concerning whether the takeover of Partnerre Ltd. by EXOR S.p.A. for $140.50 per share is unfair to NYSE:PRE stockholders.
Investors who purchased shares of Partnerre Ltd (NYSE:PRE) and currently hold any of those NYSE:PRE shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Partnerre Ltd breached their fiduciary duties owed to NYSE:PRE investors in connection with the proposed acquisition.
On August 3, 2015, Partnerre Ltd (NYSE:PRE) announced that it has reached an agreement with EXOR S.p.A. (EXOR) under which EXOR will acquire all of the outstanding common shares of PartnerRe for an all-cash consideration of $140.50 per share, including a special pre-closing dividend of $3.00 per share, for a total transaction value of approximately $6.9 billion.
However, given that at least one analyst has set the high target price for NYSE:PRE shares at $143.89 per share, the investigation concerns whether the offer is unfair to NYSE:PRE stockholders. More specifically, the investigation concerns whether the Partnerre Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
On August 13, 2015, NYSE:PRE shares closed at $138.20 per share.
Those who are current investors in Partnerre Ltd (NYSE:PRE) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego