The S&P/ASX 200 Index (ASX: XJO) is taking a Trump tariff beating today, but that's not holding back this surging ASX 200 stock.

The outperforming company in question is Challenger Ltd (ASX: CGF).

Shares in the investment management company closed on Friday trading for $5.54. In earlier trade on Monday, shares just leapt to $6.40, up 15.5%. After some likely profit-taking, shares are changing hands for $5.97 apiece at the time of writing, up 7.8%.

To put that performance in better context, the ASX 200 is down 4.1% at this same time.

Here's what's grabbing investor interest today.

ASX 200 stock rockets on share acquisition news

The Challenger share price is surging today after the ASX 200 stock announced that TAL Dai-ichi Life Australia has agreed to acquire a 15.1% minority interest in the company from MS&AD Insurance Group Holdings.

TAL is a subsidiary of Dai-ichi Life Holdings, a Japanese-based mutual insurance company.

TAL is offering 763 yen per Challenger share, or approximately AU$8.46 per share. That's 52.7% above Friday's closing price.

In a media release, TAL said it "recognises the evolving needs of Australia's retirement market".

TAL said its minority investment in the ASX 200 stock reflects "TAL's long-term commitment to the retirement income solutions sector, where we expect to benefit from the anticipated market growth".

What did management say?

Commenting on the share acquisition proposal sending the ASX 200 stock flying higher in today's sinking market, Challenger CEO Nick Hamilton said:

Dai-ichi Life is a global leader in life insurance and we look forward to building a relationship that will benefit both our customers and shareholders. We welcome their significant investment in our business and will explore future opportunities that support our strategic objectives.

The strategic reinsurance relationship in place with MS Primary since 2016 has created significant shared value and we are pleased this will continue. This is an exciting time for Challenger as we deliver our growth strategy and provide financial confidence to even more Australians in retirement.

In 2024, Challenger and MS Primary, a subsidiary of MS&AD, renewed their reinsurance partnership for another five years.

Hamilton said that the arrangement continues to deliver "well above the minimum volume levels".

The company stressed that Challenger and MS Primary's successful decade-long collaboration will not be impacted by the share sale.

The ASX 200 stock's share sale to TAL remains subject to customary regulatory approvals, including from the Australian Foreign Investment Review Board (FIRB) and the Australian Prudential Regulation Authority (APRA).