DAIICHI LIFE BIDS FOR REST OF CHALLENGER

Japan's Dai-ichi Life wants full control of Challenger. TAL Daiichi Life, the unit that already owns a stake in the Australian annuity provider, offered to buy the rest of the company, valuing Challenger at $5.53 billion. The premium on the new bid is just 19.8% over Friday's closing price. Back in April 2025, the same buyer paid a 53% premium to build its first stake in Challenger. $CGF has climbed enough since then that today's offer needs far less of a premium to get done.