PartnerRe said it would engage in discussions with hostile bidder Exor to seek a better offer than the $6.8 billion proposal that the target company called unacceptable.

Exor upped the ante in the takeover battle for PartnerRe, raising its bid by 5.8% in a final push to beat out rival Axis for control of the reinsurer.

Exor SpA offered $6.4 billion for PartnerRe Ltd., seeking to break up the reinsurers planned merger with Axis Capital Holdings Ltd.

Chrysler Group LLC is recalling 867,795 Jeep Grand Cherokee and Dodge Durango sport-utility vehicles to install a shield to protect brake boosters from water corrosion.