American Equity Opts for Brookfield Tie-Up, Snubs Takeover

(Bloomberg) — American Equity Investment Life Holding Co. confirmed it plans to launch a new partnership with Brookfield Asset Management Inc. after rejecting a proposed $3 billion takeover from Athene Holding Ltd. and Massachusetts Mutual Life Insurance Co.American Equity said in a statement that under the partnership, Brookfield will acquire a 19.9% stake in the insurer for roughly $37 a share, or a 15% premium on where the stock closed Friday. Brookfield will also take a seat on American Equity’s board as part of the arrangement, the companies said in separate statements, confirming an earlier report by Bloomberg News.“This compelling …read more

Source:: Yahoo Finance


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