PartnerRe Shareholders Approve Details of PARIS RE Acquisition

Bermuda-based PartnerRe Ltd. announced that its shareholders, at a Special General Meeting, have approved all of the proposals unanimously recommended by the Company’s Board of Directors to effect the Company’s proposed acquisition of PARIS RE, a French-listed, Swiss-based diversified reinsurer [See IJ web site – https://www.insurancejournal.com/news/international/2009/07/06/101953.htm.]

PartnerRe’s shareholders were asked to vote on the following:
— a proposal to approve the issuance PartnerRe common shares in connection with the series of transactions to acquire PARIS RE;
— a proposal to increase the size of the Board of Directors to 12 from 11; and
— a proposal to amend the Company’s existing equity plan to increase the number of PartnerRe common shares available for issuance and to increase the number of PartnerRe common shares that may be awarded to employees as restricted shares or restricted share units.

Source: PartnerRe – www.partnerre;com

Topics Mergers & Acquisitions