TAL, an Australian subsidiary of the Dai-ichi Life Group, submitted a non-binding acquisition proposal for major insurer Challenger. The acquisition is reportedly valued at approximately ¥700 billion and is expected to be one of the group's largest overseas M&A transactions.
It has emerged that TAL, an Australian subsidiary of the Dai-ichi Life Group, submitted a non-binding acquisition proposal for Challenger. Challenger is the target of the proposal, which has no legal binding force.
The acquisition is estimated to be valued at approximately ¥700 billion and is reportedly likely to be one of the Dai-ichi Life Group's largest acquisitions of an overseas company.