Corebridge, Equitable merge to create potential new annuity sales king

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Corebridge Financial and Equitable Financial are merging in an all-stock deal valued at approximately $22 billion, forming a new annuity powerhouse. This combination is projected to make the new Equitable the top annuity seller with a 10.53% market share, boasting $1.5 trillion in assets under management. The merger is expected to generate over $500 million in run-rate expense synergies by the end of 2028 and deliver immediate accretion to earnings per share and cash generation for shareholders.

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