Corebridge Financial and Equitable Holdings to Merge into a $22 Billion Company

Corebridge Financial, Inc. (CRBG) and Equitable Holdings, Inc. (EQH) entered a merger agreement on March 26, 2026, to create a company with the combined value of $22 billion.

Deal Structure:

Corebridge and Equitable will create a new parent company. Each Corebridge share will be exchanged for 1 share of the new company, while each Equitable share will be exchanged for about 1.55516 shares of the new company.

Corebridge shareholders will own about 51% of the new combined company, while Equitable shareholders will own about 49%.

Company Profile:

Equitable is a financial services company that provides retirement, investment management, and insurance products to individuals and institutions. It operates through businesses including asset management, annuities, and protection solutions, serving clients globally.

Corebridge is a financial services company that provides retirement solutions and insurance products, including annuities and life insurance. It serves individuals, employers, and institutions primarily in the United States.

Deal Details and Timeline:

The combined company will have $1.5 trillion in assets under management and administration across Individual Retirement, Group Retirement, Asset Management, Wealth Management, Life Insurance, and Institutional Markets.

The combined company will benefit from Equitable’s partnership with its majority-owned subsidiary, AllianceBernstein, a global investment manager operating in 21 countries. Over time, the company plans to move more than $100 billion of Corebridge’s assets to AllianceBernstein, helping it grow larger and strengthen its competitive position.

The transaction is expected to immediately increase the combined company’s earnings per share and cash generation, with the impact rising to over 10% by the end of 2028.

The combined company will operate under the Equitable name and trade on the New York Stock Exchange under the ticker “EQH.” Corebridge CEO Marc Costantini will serve as President and CEO, and Equitable CFO Robin Raju will serve as CFO of the combined company.

The combined company will have a 14-member board, with 7 directors from Corebridge and 7 from Equitable. Costantini and Mark Pearson will be on the board, with Pearson serving as Executive Chair. Alan Colberg will serve as Lead Independent Director.

The combined company will be headquartered in Houston, Texas.

The deal is expected to close by year-end 2026.

Goldman Sachs was the financial advisor, and Paul, Weiss, Rifkind, Wharton & Garrison was the legal advisor to Equitable. Corebridge received financial advice from Morgan Stanley and legal advice from Skadden, Arps, Slate, Meagher & Flom.

Deal Metrics:

For further details on this merger and acquisition deal, please visit the Deal Metrics page here:

Deal Metrics for the merger of Equitable Holdings, Inc. (EQH) and Corebridge Financial, Inc. (CRBG)

The Deal Metrics page for each merger or acquisition includes:

– A spread history chart of the merger from announcement through eventual completion or failure.
– Every event as the merger progresses through the expiration of the HSR period, various regulatory approvals, shareholder votes, etc.
– News and SEC filings.
– A history of deal updates.
– And much more.

Disclaimer: Please conduct your own research and due diligence before buying or selling any securities mentioned in this article. We do not guarantee the completeness or accuracy of the content or data provided in this article.

Editor’s Note: Baranjot Kaur contributed to this article