Corebridge, Equitable Seal $22 Billion All-Stock Merger to Create New U.S. Retirement Giant

Equitable Holdings and Corebridge Financial struck a deal Thursday to merge in an all-stock transaction valued at roughly $22 billion. The combined company will oversee upwards of $1.5 trillion in assets under management and administration, serving more than 12 million customers across the U.S. The announcement landed after both the Financial Times and Bloomberg reported the two insurers were closing in on an agreement.