From BigGo Finance · BigGo Finance · · 50s
Daiichi Life Bids A$7.94 Billion for Challenger
Daiichi Life's Australian unit offers A$11.80 per share for Challenger, a 19.8% premium to Friday's close.
In brief
Daiichi Life's Australian unit offers A$11.80 per share for Challenger, a 19.8% premium to Friday's close. Daiichi Life Unit proposes A$7.94 billion acquisition of Challenger, valuing it at 19.8% premium to Friday's share price. Originally reported by BigGo Finance.
Daiichi Life's Australian Unit Proposes Acquisition
Daiichi Life Australia Pty has proposed acquiring 79 per cent of Challenger it does not already own, valuing the investment manager at A$7.94 billion.
Offer Details and Premium
The bid offers A$11.80 per share, a 19.8 per cent premium to Friday's close, with TAL Daiichi Life Australia Pty already holding 20.36 per cent.
Next Steps for Challenger
Challenger's board is reviewing the indicative proposal, which is subject to conditions including satisfactory due diligence.
The main idea
Daiichi Life Unit proposes A$7.94 billion acquisition of Challenger, valuing it at 19.8% premium to Friday's share price.
