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Stock impact report

Corebridge, Equitable agree to $22bn all-stock merger [Yahoo! Finance]

AllianceBernstein Holding L.P. Units (AB) 
Last alliancebernstein holding l.p. units earnings: 4/28 06:20 am Check Earnings Report
Company Research Source: Yahoo! Finance
The merged company will have $1.5tn in assets under management and administration and serve more than 12 million clients. Its business areas will include individual and group retirement, asset management, wealth management, life insurance and institutional markets. The new company will integrate Corebridge's and Equitable's distribution networks, broaden its business mix and expand opportunities for product cross-selling. It will also build on Equitable's existing relationship with AllianceBernstein, shifting more than $100bn of Corebridge's assets to AllianceBernstein over time. The combined company expects operating earnings of more than $5bn and cash generation exceeding $4bn. Earnings per share and cash generation are forecast to rise by more than 10% by 2028. Adjusted return on equity is projected to surpass 15% by 2027. In terms of structure, each Corebridge share will be swapped for one share in the newly formed parent company, while each Equitable share will be Show less Read more
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