Market Overview

UPDATE: Dai-ichi Life to Acquire Protective Life for $70.00/Share in Cash

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Dai-ichi Life Insurance Company (OTC: DCNSF)
and Protective Life Corporation (NYSE: PL)
announced that they have entered into a definitive agreement under which
Dai-ichi Life will acquire all outstanding shares of Protective Life
Corporation for $70.00 per share in cash, or a total transaction value
of approximately $5.7 billion. The transaction consideration represents
a 34% premium over Protective's unaffected closing stock price of $52.30
on May 30, 2014.

Dai-ichi Life, founded in 1902 and headquartered in Tokyo, Japan, is one
of the top 20 global life insurers and operates throughout Japan,
Australia, Vietnam, Indonesia, India and Thailand. Protective, whose
primary subsidiary, Protective Life Insurance Company, was founded in

See full press release

Posted-In: News Guidance Asset Sales Management M&A Global Press Releases

 

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