The following bids, mergers, acquisitions and disposals were reported by 1400 GMT on Wednesday:** Japan's Dai-ichi Life Insurance Co has agreed to purchase U.S. peer Protective Life Corp for $5.7 billion, the largest acquisition by a Japanese insurer, displaying its determination to grow overseas to counter weak prospects at home. Dai-ichi Life, Japan's second largest private-sector life insurer, said it would issue up to 250 billion yen ($2.4 billion) in new shares to help finance the widely expected purchase of Protective Life.
Protective Life Corporation is a holding company. Shares of PL traded higher by 17.98% or $10.56/share to $69.28. In the past year, the shares have traded as low as $36.36 and as high as $60.38. On average, 476861 shares of PL exchange hands on a given day and today's volume is recorded at 9120148.
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