American Equity Board Prefers Brookfield Deal to Athene-MassMutual Offer
October 21, 2020 by Allison Bell
American Equity Investment Life Holding Company has rejected an acquisition offer from Athene Holding Ltd. and Massachusetts Mutual Life Insurance Company.
The Athene-MassMutual offer is “is opportunistic, significantly undervalues the company, and is not in the best interests of American Equity and its shareholders and other stakeholders,” according to a letter to Athene and MassMutual that was signed by John Matovina, who is American Equity’s chairman, and by Anant Bhalla, the company’s chief executive officer.
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