Hong Kong tycoon Richard Li’s Pacific Century Group is stepping up its search for assets in Southeast Asia after spending more than $2 billion to acquire insurance units at home and in Macau and Thailand.
Tokio Marine Holdings Inc. agreed to pay a 71 percent premium in its $2.7 billion cash bid for the U.S.’s Delphi Financial Group Inc. as Japanese insurers face waning demand from an aging population at home.
Youth is beating experience in Japan’s stock market, where only 4 percent of companies have boards where the average age is less than 50, generating returns twice those of corporations with older directors.
Delphi Financial Group Inc.’s $2.7 billion buyout by rival insurer Tokio Marine Holdings Inc. should be blocked because it doesn’t provide enough for investors while unfairly enriching the company’s top executive, a lawyer argued to a judge.
Delphi Financial Group Inc. investors lost a bid to block a $2.7 billion buyout by rival insurer Tokio Marine Holdings Inc. as a judge rejected arguments that the deal was flawed because it unfairly enriches the company’s top executive.