Challenger, a major Australian insurer, has submitted an initial acquisition proposal for Dai-ichi Life Group's Australian subsidiary, with the share acquisition value estimated at around ¥700 billion.
TAL, Dai-ichi Life Group's Australian subsidiary, received a non-binding acquisition proposal from major Australian insurer Challenger. The proposed share acquisition value, calculated based on current share prices and exchange rates, has been reported at around ¥700 billion.
If completed, the proposal is expected to become Dai-ichi Life's largest-ever acquisition of shares in an overseas company.
TAL, the target, is an Australian life insurer owned by Dai-ichi Life. The proposal is described as an initial, non-binding approach.
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