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The latest update is out from Challenger ( (AU:CGF) ).
Challenger Limited has confirmed it is in advanced but incomplete talks to partner with Pepper Group ANZ HoldCo to jointly acquire Pepper Money Limited via a scheme of arrangement. Under the proposal, Pepper Group would initially hold at least the same economic interest it currently has in Pepper Money, while Challenger would own no more than 25% of the lender’s shares.
The potential investment would give Challenger long-term strategic access to fixed income assets to support growth and returns, aligning with its retirement-focused investment model. The company stressed it will remain a disciplined allocator of capital, does not intend to raise common equity to fund any deal, and expects any transaction to be strategic and earnings-per-share accretive, while cautioning there is no certainty an agreement will be reached.
The most recent analyst rating on (AU:CGF) stock is a Hold with a A$9.00 price target. To see the full list of analyst forecasts on Challenger stock, see the AU:CGF Stock Forecast page.
More about Challenger
Challenger Limited is an Australian investment management firm focused on providing customers with financial security in retirement. The company operates a fiduciary funds management division and an APRA-regulated life division, and its subsidiary, Challenger Life, is the country’s largest provider of annuities, giving it a significant presence in retirement income markets.
YTD Price Performance: -5.21%
Average Trading Volume: 1,219,632
Technical Sentiment Signal: Buy
Current Market Cap: A$6.14B
Find detailed analytics on CGF stock on TipRanks’ Stock Analysis page.