Tokio Marine Eyes Suncorp Deal
Japanese insurer Tokio Marine has reportedly identified Australian rival Suncorp as a preferred takeover target following a review of several international options. Discussions between the companies remain ongoing with no guarantee of a final agreement. Shares of Australian insurers rose following the report.
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TOKIO MARINE HOLDINGS INC has identified SUNCORP GROUP LTD-SPON ADR as its preferred takeover target in Australia, following a review of international options. The potential transaction comes as the Japanese insurer expands its footprint across the Asia-Pacific region. Both companies declined to comment on the discussions.
