Japanese life insurance giant TAL Dai-ichi Life has acquired MS&AD Holdings’ 15.1 per cent stake in Challenger Limited, subject to FIRB and APRA approvals.
The deal was priced at $8.74 a share – or a 58 per cent premium to the last closing price. The acquirer said in a statement that it had “no current intention” to make a move to take over the $4 billion ASX-listed retirement product provider and fund manager.
Loading...
Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
