Suncorp Denies Takeover Talks
Australian insurer Suncorp stated it is not engaged in takeover discussions with Japan's Tokio Marine. The clarification followed media reports and an exchange query, sending Suncorp shares down by 6.7 percent.
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SUNCORP GROUP LTD denied holding takeover talks with TOKIO MARINE HOLDINGS INC, sending its shares tumbling 6.7% during Thursday morning trading. The denial follows media reports linking the Australia insurer to a potential acquisition by the Japan-based financial giant. Investors reacted swiftly, pulling the stock down to A$18.63.
