: AEL’s stock jump 15% after company confirms $55 a share offer from Brookfield Reinsurance

The stock of American Equity Investment Life Holding Co. AEL jumped 15% premarket Tuesday, after the West Des Moines, Iowa-based annuity provider confirmed it has received a $55 per share offer from Brookfield Reinsurance Ltd. BAM The offer is comprised of $38.85 a share in cash and $16.15 a share in Brookfield stock. AEL stock closed at $45.10 on Monday. With 77.9 million shares outstanding, according to the company’s last quarterly filing with the Securities and Exchange Commission, the deal would be valued at about $4.3 billion. AEL said its board would review the offer with advisers and will make no further comment until the review is complete. AEL stock has fallen 1.1% in the year to date, while the S&P 500 SPX has gained 13%.

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