American Equity Receives a $4.3 Billion Takeover Offer from Brookfield

Annuities provider American Equity Investment Life Holding 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 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.

AEL had also fielded takeover interest from Athene Holding and Massachusetts Mutual Life Insurance Company in 2020.

Read the source article at finance.yahoo.com