American Equity Rejects Offer From Elliott Investment-Backed Insurer
December 27, 2022 by Allison Bell
The American Equity Investment Life Holding Company board has rejected an unsolicited acquisition offer from Prosperity Group Holdings — a life insurer affiliated with Elliott Investment Management — for $45 per share in cash, or a total of $3.7 billion.
David Mulcahy, American Equity’s chair, called the Prosperity offer “opportunistic” and said it “significantly undervalues the company.
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Originally Posted at ThinkAdvisor on December 22, 2022 by Allison Bell.
Categories: Industry Articles