TOKYO, June 2 Japanese insurer Dai-ichi Life Co is considering the possibility of issuing shares to raise funds if it successfully concludes advanced talks to buy Protective Life Corp of the United States, a source with direct knowledge of the matter said.
Dai-ichi Life, Japan's second-largest private-sector life insurer, is planning to fund half of the acquisition of the U.S. 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 course said.
The Japanese company plans to buy 100 percent of Birmingham, Alabama-based Protective Life, said the source.
Dai-ichi Life declined to comment.
(Reporting by Taiga Uranaka; Editing by Kenneth Maxwell)
GLOBAL MARKETS-Asia stocks pressured as Wall St hit by healthcare vote delay
TOKYO, June 28 Asian shares slumped on Wednesday after Wall Street was knocked hard in the wake of a delay to a U.S. healthcare reform vote, while the euro rallied after European Central Bank President Mario Draghi hinted that the ECB could trim its stimulus this year.