Corebridge Financial, Inc. (NYSE:CRBG) entered into a definitive agreement to acquire Equitable Holdings, Inc. (NYSE:EQH) for $10.7 billion on March 26, 2026. Corebridge common stock will be exchanged for the right to receive 1.0000 shares of the new parent company?s common stock, and each outstanding share of Equitable common stock will be exchanged for the right to receive 1.55516 shares of the new parent company?s common stock. Upon closing of the transaction, the combined company will operate under the Equitable name and brand and trade under the Equitable ticker symbol ?EQH? on the New York Stock Exchange. Equitable stockholders will own 49% & Corebridge stockholders will own approximately 51% of HoldCo. Marc Costantini, President and Chief Executive Officer of Corebridge, will serve as President and Chief Executive Officer of the combined company and Robin Raju, Chief Financial Officer of Equitable, will serve as Chief Financial Officer of the combined company. The Merger Agreement provides for the payment by Equitable to Corebridge of a termination fee of $475 million. Similarly, Corebridge must pay a termination fee of $475 million to Equitable if: (a) the Merger Agreement is terminated by either party due to (i) the failure to consummate the Mergers by the Outside Date, (ii) the failure to obtain the requisite Corebridge stockholder approval, or (iii) a breach by Corebridge of any of its representations, warranties, covenants or agreements set forth in the Merger Agreement such that the closing conditions relating to the bring-down of such representations and warranties or the performance of such covenants and agreements would not be satisfied (and such breach is not curable prior to the Outside Date, or if curable prior to the Outside Date, has not been cured within the earlier of (A) 30 days after the giving of written notice thereof by Equitable to Corebridge or (B) three business days prior to the Outside Date), and, in each case of clauses (i) through (iii), prior to such termination or the date of the Corebridge stockholder meeting (as applicable), a bona fide acquisition proposal with respect to Corebridge has been made or announced by a third party and not withdrawn.

Effective as of the closing, (a) the current equitable CEO will be appointed to serve as Executive Chair of the HoldCo Board, (b) the current Corebridge CEO will be appointed to serve as the President and Chief Executive Officer of HoldCo, and (c) the current Corebridge Chair will be appointed to serve as the Lead Independent Director of the HoldCo Board. The Merger Agreement also provides for the establishment of an executive committee, an integration steering committee and other standing committees of the HoldCo Board, each with designees from both Equitable and Corebridge. The headquarters of HoldCo will be located in Houston, Texas. The combined company will operate under the Equitable name and brand and trade under the Equitable ticker symbol ?EQH? on the New York Stock Exchange. As of May 12, 2026, Corebridge Financial and Equitable Holdings, Inc. announced the leadership team for the future combined company, effective upon completion of the previously announced merger. The combined company?s management team will include Robin M. Raju (Chief Financial Officer); Jeffrey J. Hurd (Chief Operating Officer and Chief Human Resources Officer); Polly Klane (General Counsel and Chief Legal Officer); Seth Bernstein (Chief Executive Officer of AllianceBernstein); Onur Erzan (President of AllianceBernstein); John Byrne (Head of Individual Distribution); David Karr (Head of Wealth Management); Lisa Longino (Chief Investment Officer); Jonathan Novak (Head of Institutional Markets); Bryan Pinsky (Head of Individual Retirement and Life Insurance); Steve Scanlon (Head of Group Retirement); David Ditillo (Chief Information Technology Officer); and Julia Zhang (Chief Risk Officer), all of whom will report to Chief Executive Officer Marc Costantini upon closing.

The transaction subject to customary closing conditions, including the receipt of required regulatory approvals and HSR and approval of shareholders of both Corebridge and Equitable. The Merger Agreement and the consummation of the transactions contemplated by the Merger Agreement have been unanimously approved by the boards of directors of both companies. The transaction, expected to close by year-end 2026, is immediately accretive to earnings per share and cash generation, with over 10% accretion by the end of 2028, supported by more than $500 million of synergies. On April 8, 2026, Corebridge Financial and Equitable Holdings entered into a Voting and Support Agreement.

Morgan Stanley & Co. LLC is serving as financial & Fairness Opinion advisor. Todd E. Freed, Patrick J. Lewis and Elena M. Coyle, Page Griffin, Michael Sheerin and Dwight Yoo of Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal advisor, and Joele Frank, Wilkinson Brimmer Katcher is serving as strategic communications advisor to Corebridge. Goldman Sachs & Co. LLC is serving as financial & fairness Opinion advisor. Andrew D. Krause , Adam M. Givertz , Scott A. Barshay, Daniel Yip, David Hepp, Matthew Collin, John Kennedy, Patricia Vaz de Almeida, Mark Adler, Nick Schwartz, Prem Mohan, Reva Raghavan, Alena Thomas and Frances Mi, Matthew Friestedt, Christopher Gonnella, Jesse Solomon, Scott Sher, Jaren Janghorbani, Brian Krause, Peter Fisch, Marisa Geiger, Stefanie Gitler of Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal advisor, and Kekst CNC is serving as strategic communications advisor to Equitable. Separate teams from Oliver Wyman and Deloitte are serving as advisors to each company.