Daiichi Life offers to buy remaining stake in Challenger
Updated
Summary
Daiichi Life Group offered to buy the remainder of Challenger Ltd. that it does not already own, valuing the Australian firm at around A$7.9 billion (US$5.5 billion).
Why it matters
Challenger shares surged 19.3% after TAL Dai-ichi Life made a non-binding takeover bid at A$11.80 per share.