Challenger Rejects Daiichi Life Unit Bid, Remains Open to Talks
Challenger said an indicative proposal from a Daiichi Life unit to buy more than 79% of its shares is not at a level it could recommend to shareholders.
Australia's Challenger ASX:CGF said on Monday an indicative proposal from a unit of Japan's Daiichi Life TSE:8750 to buy more than 79% of shares in the Australian investment manager is "not at a level it could recommend to shareholders".($1 = 1.4241 Australian dollars)