Activist investor pressures French reinsurer Scor on takeover

Reuters reports that CIAM has put pressure on French reinsurer Scor after it rejected a friendly €8.2 billion takeover offer from French insurer Covea. CIAM said in a letter to Scor that the company’s management was legally obliged to discuss the offer with Covéa and that its response to the bid was reflective of its poor corporate governance.

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