TOKYO, June 2 Japanese insurer Dai-ichi Life Co
said it was considering various fund-raising options to
acquire a U.S. life insurance company, after a source said it
was in advanced talks to buy Protective Life Corp of the
The company said options included an issuance of new shares,
confirming an earlier Reuters report, but added it had not made
any decision on the matter. A source with direct
knowledge of the matter also told Reuters earlier that the deal
could be worth over $5 billion, the biggest so far in a string
of overseas acquisitions by Japanese insurers.
The Nikkei business daily reported earlier that Dai-ichi
Life is considering raising more than 200 billion yen ($1.97
billion) by issuing new shares, sending the life insurer's
shares tumbling more than 8 percent at one point.
($1 = 101.7450 Japanese Yen)
(Reporting by Tokyo newsroom; Editing by Chang-Ran Kim)