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AAP
AAP
Derek Rose

Annuity provider's shares surge on $8b takeover offer

Challenger shares have jumped 16.7 per cent to an eight-year high of $11.49. (Lukas Coch/AAP PHOTOS)

Australia's leading annuity provider is considering a $7.9 billion tentative takeover offer from the country's biggest life insurance company.

Challenger Limited said on Monday that TAL Dai-ichi Life Australia had floated a figure of $11.80 per share for the 79.5 per cent of Challenger it didn't already own.

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