Dai-ichi Life considers share issue to fund part of Protective Life buy: Source
Jun 02 2014 , Tokyo
Dai-ichi Life, Japan's second-largest private-sector life insurer, is planning to fund half of the acquisition of the US insurer - likely to be worth over $5 billion - from existing reserves, said the source, who was not authorised to discuss the matter publicly. The rest of the acquisition cost would come from funds raised externally, including a possible share issue, the sourse said.
The Japanese company plans to buy 100% of Birmingham, Alabama-based Protective Life, said the source.
Dai-ichi Life declined to comment.