UPDATE 1-PartnerRe investor says Exor offer "superior" to Axis deal

April 16, 2015 4:41 PM

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April 16 (Reuters) - PartnerRe Ltd's second-biggest shareholder said Exor SpA's offer for the Bermuda-based reinsurer was "much superior" to a deal with Axis Capital Holdings Ltd that was already on the table.

Peter Langerman, chief executive of Franklin Mutual Advisers LLC (FMA), said his fund had told PartnerRe it was unhappy with the terms of an $11 billion all-share deal with Axis to create one of the world's largest reinsurers.

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