Corebridge Financial acquires Equitable Holdings, Inc.

Corebridge Financial acquired Equitable Holdings, Inc. for ~$22 billion (combined company), a transaction announced in March 2026, structured as all stock (merger of equals). The deal was a Merger.

Equitable Holdings, Inc. operates in Retirement / Life / Asset & Wealth Management, is based in United States (Equitable Holdings, New York). Corebridge and Equitable Holdings agreed to combine in an all-stock merger of equals, structured so both companies become subsidiaries of a newly formed holding company. Corebridge shareholders would own roughly 51% of the combined business and Equitable shareholders about 49%, with the combined company valued near $22 billion at announcement. The combined firm would span retirement, life insurance, wealth management and asset management (including Equitable's stake in AllianceBernstein), serving more than 12 million customers with about $1.5 trillion in assets under management and administration. Corebridge's CEO would lead the combined company, which would be headquartered in Houston.

Creates a leading, diversified U.S. retirement, life, wealth and asset-management company with greater scale, a balanced revenue mix and expanded distribution; management projected immediate EPS and cash-generation accretion rising to over 10% by the end of 2028.

Combines complementary retirement, life, wealth and asset-management franchises at scale (>12 million customers; ~$1.5 trillion AUM/A). Management cited meaningful expense and financial synergies and EPS/cash-generation accretion exceeding 10% by year-end 2028. New combined holding company (Corebridge-led), headquartered in Houston

The combined company will benefit from a strong competitive position and accelerated growth across retirement, life and institutional markets, as well as asset and wealth management. With a world-class, multi-channel distribution network and an expanded offering of innovative products, we will create a balanced and resilient business well positioned to serve customers.Marc Costantini, President and Chief Executive Officer, Corebridge Financial, Inc.

This is a transformational transaction that brings together three outstanding franchises - Corebridge, Equitable, and AllianceBernstein - to create a diversified financial services company uniquely positioned to serve customers and deliver long-term value for shareholders.Mark Pearson, President and Chief Executive Officer, Equitable Holdings, Inc.

Advisory firms were not disclosed for this transaction.

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