Brookfield values American Equity at $4.3 billion in takeover bid

June 28, 2023 by Niket Nishant

June 27 (Reuters) – Annuities provider American Equity Investment Life Holding (AEL.N) said on Tuesday it has received a takeover offer from its biggest shareholder, valuing the long-sought merger candidate at nearly $4.3 billion.

The offer from the reinsurance arm of Canadian investment firm Brookfield (BN.TO), comes months after AEL rejected a nearly $4 billion bid from Elliott Investment Management-backed insurance firm Prosperity Life, saying it “significantly undervalued” the company.

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Originally Posted at Reuters on June 27, 2023 by Niket Nishant.