Brookfield Corp. (BN) is nearing a deal to acquire insurance firm American Equity Investment Life (AEL) Dinesh Nair of Bloomberg reports, citing people with knowledge of the matter. Brookfield’s reinsurance arm has made a cash and stock offer that’s set to be recommended by the American Equity board, sources told Bloomberg. American Equity could make an announcement as soon as Monday, according to the people. In December, American Equity rejected an unsolicited offer of $45 per share from Prosperity Life Insurance Group. Brookfield’s offer is higher than that and values American Equity at a significant premium to its recent stock price, the sources note. Shares of American Equity closed up 11% to $45.10 following the report.
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