Third Point Secures 67% Shareholder Support for Malibu Life Re Acquisition

Third Point Investors shareholders back Malibu Life Reinsurance acquisition

Third Point Investors Limited (TPIL) shareholders have approved the fund’s merger with Cayman-based Malibu Life Reinsurance SPC, paving the way for billionaire Daniel Loeb’s London-listed vehicle to pivot from listed equities to annuities and credit strategies, according to a report by Reuters. The deal will exchange TPIL shares for Malibu equity at NAV and transform the feeder fund into a reinsurance platform targeting the US fixed annuity mark…

Third Point secures 67% shareholder support for Malibu Life Re acquisition

Third Point LLC (TPIL ), a New York-based alternative asset manager, has secured shareholder approval for its acquisition of Malibu Life Reinsurance SPC, a life and annuity reinsurance platform. The vote, which took place at the firm’s extraordinary general meeting (EGM), resulted in 67% of shareholders voting in favour of the proposed transaction. Rupert Dorey, Chairman of the Board of Third Point Investors Limited said: “Following extensive co…

Third Point rebels protest as Dan Loeb hedge fund uses "VoteCo" to push through Malibu Life takeover

Update: Third Point Investors (TPOU) has won shareholder approval for its controversial acquisition of Malibu Life, angering the rebel investor group which accused it of ignoring the wishes of independent shareholders. At an extraordinary general meeting on Thursday, 66.67% of votes cast were in favour of the reverse takeover that will see Dan Loeb’s £329m […]