Challenger: A Deal Is More Likely Than Not; Shares Overvalued on a Stand-Alone Basis
Challenger received a nonbinding indicative offer from TAL Daiichi Life Australia at AUD 11.80 a share, 17.7% above its one-month volume-weighted average price of AUD 10.03. The offer came as Challenger’s first-quarter fiscal 2027 update showed a 5% rise in assets under management.