(Il Sole 24 Ore Radiocor) - Milano, 26 mar - Corebridge Financial and Equitable Holdings said they had agreed to merge in an all-stock deal that values the combined company at 22 billion dollars.

The deal will create a financial services company with over 12 million customers and more than 1.5 trillion dollars in assets under management and administration.

Under the agreement, each Corebridge share will be exchanged for the right to receive one share of the new parent company's common stock while each Equitable share will be exchanged for the right to receive 1.55516 shares of the new company's stock.

Corebridge shareholders will own 51% of the combined company, with Equitable shareholders owning the rest.

The transaction is expected to close by year-end 2026.

(RADIOCOR) 26-03-26 15:01:56 (0501) 5 NNNN