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)