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Sard Verbinnen & Co. represents American Equity Investment Life Holding Co. as the insurer receives a $3B takeover offer from Massachusetts Mutual Life and Athene Holding Ltd.
The Wall Street Journal notes that American Equity’s annuities and retirement income products are popular among conservative investors.
The deal would be the latest move in the consolidation of the insurance industry.
American Equity’s board is reviewing the unsolicited bid and will determine if it represents the best interests of shareholders.
MassMutual, which would own an 80 percent stake in American Equity, promises to keep the management of the West Des Moines-based company intact.
Sard Verbinnen’s George Sard, Jared Levy and Jamie Tully handle American Equity.
C Street Advisory handles iRobot Corp as the marketer of the Roomba autonomous vacuum cleaner files Chapter 11 after being squeezed by cheaper competitors.
Joele Frank represents Confluent Inc. as the Mountain View, CA-based data streaming platform company agrees to be acquired by IBM in a deal with an enterprise value of $11B.
Tom Johnson, who has headed H/Advisors Abernathy since 2016, will join FGS Global as global head of private capital & financial services, effective Dec. 16.
Brunswick Group and Gagnier Communications are handling Paramount’s $30 cash per-share offer for all of Warner Bros Discovery, topping Netflix $27.50 cash/stock transaction.
ICR Inc. handles communications for Enhanced Ltd, which plans to run Olympic-type competitions with athletes using performance-enhancing drugs, as it goes public in a SPAC deal valued at $1.2B via a merger with A Paradise Acquisition Corp. of Hong Kong.
