Brookfield To Acquire American National - Quick Facts

Brookfield Asset Management Reinsurance Partners Ltd. (BAMR, BAMR.TO) has agreed to acquire American National Group, Inc. (ANAT) in an all-cash deal valued at approximately $5.1 billion. Each issued and outstanding share of American National common stock will be converted into the right to receive $190.00.

The consideration will be funded by Brookfield Reinsurance through a combination of committed debt and equity financing, including committed debt financing of $1.5 billion and an equity commitment of up to the aggregate merger consideration from Brookfield Asset Management Inc.

Shares of American National Group were up 7% in pre-market trade on Monday.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Food and Drug Administration (FDA) approved Boehringer Ingelheim's Cyltezo as the first interchangeable biosimilar to AbbVie's top-selling drug Humira or adalimumab. Cyltezo, originally approved in August 2017, is both biosimilar to, and interchangeable with Humira for Cyltezo's approved uses. The Food and Drug Administration may be planning to allow people to receive Covid-19 vaccine booster shot that is different from the initial dose, reports indicate. The agency is likely to make the announcement on mix and match approach on coronavirus booster vaccines on Wednesday. The move will be part of FDA's expected authorization of boosters for the Moderna and Johnson & Johnson vaccines. Drug major Johnson & Johnson on Tuesday raised again its forecast for fiscal 2021 earnings and sales, which are above market view, after reporting higher results in the third quarter. The company's quarterly adjusted earnings also beat market estimates. In pre-market activity on the NYSE, JNJ shares were gaining around 1.24 percent to trade at $162.10.
Follow RTT