Australia's Challenger at 8-year high, extends gains on takeover offer
23/10/2026 04:57
BUZZ-Australia's Challenger at 8-year high, extends gains on takeover offer ** Shares of Challenger CGF.AX rise as much as 1.7% to A$11.84, their highest since mid-August, 2018
** On track to log a nearly 20% weekly gain, best since April 2020, if trend holds
** On Monday, investment manager received indicative proposal from a unit of Japan's Daiichi Life to buy over 79% co it does not already own, offering A$11.80 apiece, valuing Challenger at A$7.94 billion ($5.57 billion)
** Co also posted a 5% rise in assets under management to A$31.9 billion for the first quarter of fiscal 2027
** Stock is up 25.4% YTD
($1 = 1.4255 Australian dollars)
(Reporting by Anjali Singh in Bengaluru)
Recent news on Challenger
See all newsBrief: Challenger Board Concluded TDA Offer Not At A Level It Could Recommend To Shareholders
Australia's Challenger rejects Daiichi Life unit takeover bid, but open to further talks
Australia's Challenger at 8-year high, extends gains on takeover offer
Merger Monday channels old economy vibes
Australia's Challenger rises as Citi says Daiichi unit likely to sweeten takeover bid