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Asian shares lower with Japan down after Dai-ichi Life deal

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Investing.com -

Investing.com - Asian markets fell with Shanghai, Hong Kong and Tokyo lower in morning sessions Wednesday.

The Hang Seng index fell 0.56%, the Shanghai Composite edged down 0.94% and the Nikkei 225 was down 0.04%.

In company news, The Dai-ichi Life Insurance Co. (TOKYO:8750) said Wednesday it will acquire Alabama-based Protective Life Corporation (NYSE:PL), the largest purchase of a foreign company by a Japanese life insurer.

Dai-ichi Life will acquire all outstanding shares of Protective Life for $70.00 per share in cash, or a total transaction value of approximately $5.7 billion. That price represents a 34% premium over Protective Life's closing stock price on Friday.

At the close of U.S. trade, the Dow 30 fell 0.13%, the S&P 500 index shed 0.04%, while the NASDAQ Composite index declined 0.08%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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