M&A · Financials · Insurance Agents, Brokers & Service
Corebridge Financial, Inc. to acquire Equitable Holdings, Inc.
Announced Mar 26, 2026 · Pending Jun 23, 2026
Deal value—
Premium—To unaffected price
EV / Adj. EBITDA—
ConsiderationAll stock
Transaction
- Acquirer
- Corebridge Financial, Inc. (CRBG)
- Target
- Equitable Holdings, Inc. (EQH)
- Buyer type
- Strategic
- Offer price per share
- —
- Enterprise value
- —
- Status
- Pending Jun 23, 2026
Deal protections
- Break fee (target pays)
- $475M
- Reverse fee (buyer pays)
- $475M
- Go-shop
- —
- Financing
- —
Advisors
- To the acquirer
- Morgan Stanley
- To the target
- Goldman Sachs
- Morgan Stanley fee
- $60.0M
- Goldman Sachs fee
- $50.0M
Sector context · Financials
- Comparable deals
- 73 in the prior 24 months
- Premium
- Sector median 38.5%
- EV / Adj. EBITDA
- Sector median 13.7x
- Break fee
- Sector median 3.7%
Timeline
- AnnouncedMar 26, 2026
- Proxy filedJun 23, 2026
- Definitive proxyJun 23, 2026
- Shareholder votePending
- ClosedPending
Valuation · fairness opinions
Trading comparablesMorgan Stanley$28.25$38.45
Trading comparablesMorgan Stanley$46.30$61.65
Analyst price targetsMorgan Stanley$28.45$37.35
Analyst price targetsMorgan Stanley$48.15$58.90
Discounted cash flowGoldman Sachs$45.91$61.43
Discounted cash flowGoldman Sachs$30.42$42.54
Discounted cash flowGoldman Sachs$48.61$67.30
Future share priceGoldman Sachs$41.59$64.29
Future share priceGoldman Sachs$24.82$40.43
Implied value per Equitable Holdings, Inc. share by analysis, from Morgan Stanley and Goldman Sachs.