Following Institutional Investor Services (ISS), another leading advisory firm on shareholders' meeting voting recommendations advises PartnerRe shareholders to vote against the Axis deal. As disclosed by Exor in a statement, Glass Lewis believes that the proposal of the Agnelli finance company "is superior" and that PartnerRe ordinary and preferred shareholders are expected to vote against the three proposals related to the Axis transaction at the Extraordinary Shareholders' Meeting to be held on August 7, 2015.
In a statement, Exor welcomes Glass Lewis' recommendation and reminds PartnerRe shareholders that voting against the Axis transaction at the August 7 Extraordinary Shareholders' Meeting “is a key step in enabling PartnerRe to accept Exor's Superior Proposal, fully financed and all in cash, which gives ordinary shareholders the assurance of US$140,50 per share in cash and which provides preferred shareholders with a prudent credit profile and significantly improved terms.
