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Aflac Jumps After Confirming Discussions With Japan Post Holdings

Shares of Aflac Inc. (AFL) have shown a strong move to the upside during trading on Thursday, surging up by 6.3 percent. Aflac continues to rebound after ending Tuesday's trading at its lowest closing level in well over a month.

The advance by Aflac comes after the insurer confirmed media reports it is engaged in discussions with Japan Post Holdings Co., Ltd. regarding a potential minority investment in Aflac achieved through open market purchases.

Aflac stated the discussions do not involve the company or any of its subsidiaries becoming a member of the Japan Post Group.

A report from Reuters said Japan Post Holdings is planning to invest about $2.6 billion in Aflac, aiming to become the insurer's largest shareholder.

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