Bermuda company to acquire West Des Moines’ American Equity for $4.3 billion

July 11, 2023 by Tyler Jett

After resisting takeover attempts for several years, the board of West Des Moines-based American Equity Investment Life Holding Co. will cash in on an acquisition offer with a large premium.

The fixed annuity provider disclosed in a news release Wednesday that Brookfield Reinsurance will purchase it in a deal valued at $4.3 billion. Brookfield will pay $55 per share ― well above what another suitor offered in December and a 38% premium over American Equity’s stock price before the latest offer.

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Originally Posted at Des Moines Register on July 5, 2023 by Tyler Jett.