Brookfield Reinsurance to acquire remaining shares of AEL in $4.3 billion cash-and-stock deal

Brookfield Reinsurance Ltd. BNRE has agreed to acquire the shares of American Equity Investment Life Holding Co. AEL, or AEL, it does not already own in a cash-and-stock deal valued at $4.3 billion. Under the terms of the deal, AEL shareholders will receive $55 per AEL share, consisting of $38.83 in cash and 0.49797 of a Brookfield Asset Management Ltd. BAM class A limited voting share with a value of $16.15, subject to adjustment. The price is equal to a 35% premium over AEL’s undisturbed closing share price on June 23, and a 42% premium to AEL’s 90-day volume-weighted average price as of that date. “This transaction…