Sunshine Life reminds shareholders to be wary of an offer to acquire shares at a price Ocehan LLC below the market price
Toronto, October 8, 2026 / CNW / -- Sunshine Life Financial Corporation ( Sun Life Financial Inc , referred to as "Sunshine Life") ( TSX : SLF ; NYSE : SLF ) announces that it has become aware that Ocehan LLC (referred to as " Ocehan ") has launched an unsolicited tender offer to purchase up to 100,000 shares of Sunshine Life's common stock at a price significantly lower than the recent market prices of Sunshine Life's common stock on the Canadian and U.S. stock exchanges.
Sunshine Life Insurance stated that the company has no association with Ocehan, and does not recommend or endorse shareholders to accept this unsolicited offer from Ocehan. Shareholders are not obligated to sell their shares to Ocehan.
Sunshine Life Insurance reminded that the tender offer price for Ocehan is significantly lower than the recent market price of Sunshine Life Insurance's common shares. This price represents a discount of 24.97% and 24.93% respectively compared to the closing prices of Sunshine Life Insurance's common shares on the Toronto Stock Exchange and the New York Stock Exchange on August 27, 2026, which was the last trading day before the initiation of this tender offer.
Regarding small-scale tender offers
Canadian and U.S. securities regulators advise investors to be cautious regarding small-value tender offers. The purpose of small-value tender offers is to circumvent the information disclosure and procedural requirements applicable to most tender offers under Canadian and U.S. securities laws. Both the Canadian Securities Commission (CSA) and the U.S. Securities and Exchange Commission (SEC) have expressed serious concerns regarding small-value tender offers, including the possibility that investors may submit their shares without understanding the offer price relative to the actual market price of those shares.
SEC once stated: 'The acquirer initiates a small-scale tender offer at a price lower than the market price, hoping to catch investors off guard before they have the chance to compare the tender offer price with the current market price.' SEC has also issued 'investor tips' regarding small-scale tender offers. Relevant tips can be found on their website: www.sec.gov / investor / pubs / minitend.htm.
For guidance information regarding CSA's long-term approach to tender offers for small amounts, please refer to the Ontario Securities Commission's website: www.osc.ca / en / securities-law / instruments-rules-policies /6/61-301/ csa-staff-notice-61-301-staff-guidance-practice-mini-tenders.
Sunshine Life also encourages brokers, traders, and other market participants to remain cautious, and to refer to the documents on the SEC website regarding the dissemination of small tender offer information by brokers and traders, as well as related disclosures: www.sec.gov / divisions / marketreg / minitenders / sia072401.htm.
Sunshine Life Insurance requires that in any distribution of materials related to the tender offer for Sunshine Life Insurance's common shares by Ocehan, a copy of this press release must be attached as well.
Information for Shareholders of Sunshine Life Insurance
According to the tender document of Ocehan, shareholders of Sunshine Life Insurance who have already submitted their shares may withdraw their shares within 21 days in accordance with the procedures listed in the tender document.
Sunshine Life Insurance indicates that shareholders should carefully review the tender documents for Ocehan, and communicate with their Sunshine Life advisors or investment consultants regarding any offers they may receive. At the same time, they should consider all available options for their investments in Sunshine Life shares. If you are in Canada and currently do not have a Sunshine Life advisor but are interested in finding one, you can visit: www.sunlife.ca / en / find-an-advisor.
Sunshine Life Resources
Sunlife Life Insurance stated that the company has stock transfer agencies in Canada, the United States, the United Kingdom, Hong Kong, and the Philippines to provide services to shareholders. These local agencies directly serve registered shareholders and can provide information regarding stock account management, direct dividend deposits, dividend reinvestment, and stock purchase plans. For more information, please send an email to [ email protected ] or call 1-877-224-1760.
About Sunshine Life Insurance
Sunshine Life is a leading international financial services institution that provides asset management, wealth management, insurance, and health solutions for individual and institutional clients. Sunshine Life operates in multiple markets around the world, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia, and Bermuda.
As of June 30, 2026, the total assets managed by Sunshine Life Insurance amounted to 1.70 trillion Canadian dollars. For more information, please visit: www.sunlife.com.
Sunshine Life Financial Company is listed for trading on the Toronto Stock Exchange (TSX), the New York Stock Exchange (NYSE), and the Philippine Stock Exchange (PSE) under the stock code SLF.
Editor's note: All amounts are denominated in Canadian dollars.
To contact the media relations department of Sunshine Life Insurance, please send an email to [ email protected ].
To contact the Investor Relations department of Sunshine Life Insurance, please send an email to [ email protected ].
