Fosun International said last week it is planning a $1.84 billion merger with Bermuda-based insurer Ironshore after buying the shares it doesn’t already own.

(Bloomberg) — Fosun International Ltd., the Chinese conglomerate that’s been buying insurers and property overseas, plans to raise $1 billion partly to fund acquisitions in the insurance industry.

The company will sell the shares at HK$19.48 to HK$20.32 each, according to a term sheet obtained by Bloomberg. The shares will be sold at a 3% to 7% discount to the last closing price on May 8.

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