UPDATE 1-Exor says will not raise $6.8 bln offer for PartnerRe
May 21, 2015 at 14:23 PM EDT
MILAN, May 21 (Reuters) - Italian investment holding company Exor said on Thursday it would not raise its $6.8 billion takeover offer for PartnerRe but was willing to negotiate with the reinsurer if its board declared its offer superior to that of rival suitor Axis Capital Holdings.