Investor 'Astonished' At Scor's Aggression Over Failed Merger

Law360, London (February 4, 2019, 6:10 PM GMT) -- Investment company CIAM has criticized Scor SE for threatening a barrage of lawsuits after a planned €8.2 billion ($9.4 billion) merger with a rival turned sour, accusing the French insurer of an “incredibly aggressive legal strategy.”

Scor announced on Jan. 29 that it would sue mutual insurer Covea Group and Thierry Derez, chairman of Covea Cooperations, and filed a fraud claim against Barclays PLC at the High Court in London. The flurry of litigation came after Covea announced that it had abandoned a proposed merger with Scor after pursuing the deal since August.

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