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Challenger Board Rejects TAL Daiichi Life AU$11.80 Offer

By Drooid · Oct 26, 2026, 10:24 AM UTC · How we work

Summary

Story summary

Challenger's board rejected TAL Daiichi Life Australia's AU$11.80-per-share takeover offer.
The board said the bid undervalues Challenger, whose shares traded at AU$11.92 on 23 October.
TAL Daiichi Life already holds about 20.5% of Challenger’s ordinary shares, bought in 2025.
The rejected offer valued the remaining 79.5% stake at roughly AU$7.9 billion (US$5.5 billion).
Challenger’s share price stayed at AU$11.92 on the ASX after the rejection.

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Story summary

Challenger's board rejected TAL Daiichi Life Australia's AU$11.80-per-share takeover offer.
The board said the bid undervalues Challenger, whose shares traded at AU$11.92 on 23 October.
TAL Daiichi Life already holds about 20.5% of Challenger’s ordinary shares, bought in 2025.
The rejected offer valued the remaining 79.5% stake at roughly AU$7.9 billion (US$5.5 billion).
Challenger’s share price stayed at AU$11.92 on the ASX after the rejection.