Brookfield To Acquire American National - Quick Facts

(RTTNews) - Brookfield Asset Management Reinsurance Partners Ltd. (BAMR, BAMR.TO) has agreed to acquire American National Group, Inc. (ANAT) in an all-cash deal valued at approximately $5.1 billion. Each issued and outstanding share of American National common stock will be converted into the right to receive $190.00.

The consideration will be funded by Brookfield Reinsurance through a combination of committed debt and equity financing, including committed debt financing of $1.5 billion and an equity commitment of up to the aggregate merger consideration from Brookfield Asset Management Inc.

Shares of American National Group were up 7% in pre-market trade on Monday.