Corebridge Financial and Equitable Holdings announce $22B all-stock merger

Corebridge Financial (NYSE: CRBG) and Equitable Holdings Inc. (NYSE:EQH) connected Thursday announced a definitive statement to merge successful an all-stock transaction, creating a retirement, life, wealth, and plus absorption institution with astir $1.5 trillion successful assets nether absorption and administration.

The woody values the combined institution astatine astir $22 cardinal based connected each company’s closing banal terms connected March 25, 2026.

The merger volition bring unneurotic Corebridge, Equitable, and AllianceBernstein, aiming to service much than 12 cardinal customers done a diversified portfolio that includes idiosyncratic and radical retirement, plus and wealthiness management, beingness insurance, and organization markets.

According to the companies, the operation is expected to connection expanded organisation capabilities, accrued scale, and enhanced portfolio diversification.

The companies expect the transaction to beryllium instantly accretive to net per stock and currency generation, with accretion projected to transcend 10% by the extremity of 2028.

Synergies from the merger are estimated astatine much than $500 cardinal by the aforesaid period, chiefly from the consolidation of functions, IT systems, and vendor relationships.

Under the presumption of the agreement, Corebridge shareholders volition ain astir 51% of the combined company, portion Equitable shareholders volition clasp astir 49%. The merged institution volition run nether the Equitable sanction and ticker awesome “EQH” connected the New York Stock Exchange, with office successful Houston, Texas.

Marc Costantini, CEO of Corebridge, said the merger positions the combined institution for “accelerated maturation crossed retirement, life, and organization markets” and creates a “balanced and resilient concern good positioned to service customers.”

Mark Pearson, CEO of Equitable, described the transaction arsenic “transformational,” noting the imaginable to connection clients broader entree to concern and status solutions.

Costantini volition service arsenic CEO, Robin Raju, CFO of Equitable, volition service arsenic CFO, and Pearson volition instrumentality connected the relation of Executive Chair.

The transaction is expected to adjacent by year-end 2026.

Shares of Corebridge and Equitable were some small changed connected the news, trading hands astatine $24 and $38, respectively.