American Equity board rejects takeover bid from West Des Moines neighbor Athene
October 21, 2020 by Tyler Jett
American Equity Investment Life Holding has rejected a takeover bid from fellow West Des Moines insurance company Athene Holding.
American Equity announced in a news release that its board turned down a $3 billion offer from Athene and Massachusetts Mutual Life Insurance Co., saying the unsolicited bid was “opportunistic” and “significantly undervalues” the company.
Instead, American Equity will sell a 20% stake in the company to Brookfield Asset Management at a price of $37 a share.
Click HERE to read the full story via Des Moines Register.
Originally Posted at Des Moines Register on October 10, 2020 by Tyler Jett.
Categories: Industry Articles