The Corebridge Financial merger reached a major milestone after stockholders of both companies approved the proposed transaction. The Corebridge Financial merger received overwhelming support during separate special stockholder meetings. Moreover, the Corebridge Financial merger moves one step closer to completion as both organizations continue the regulatory approval process.
Corebridge Financial, Inc. and Equitable Holdings, Inc. confirmed the voting results following their respective Special Meetings. Stockholders from both companies endorsed the previously announced merger with strong approval levels. Consequently, the proposed combination advances toward its expected closing timeline.
According to preliminary vote counts, approximately 99.96% of votes cast by Corebridge stockholders supported the transaction. Those votes represented nearly 82.14% of the company’s outstanding shares. Meanwhile, approximately 97.24% of votes cast by Equitable stockholders favored the merger. Those approvals represented about 85.84% of Equitable’s outstanding shares.
The companies noted that independent inspectors of election will certify the final voting results. Additionally, both organizations will submit the official results to the U.S. Securities and Exchange Commission through Forms 8-K.
The proposed merger aims to unite two established financial services organizations under one platform. As a result, the combined company expects to serve more than 12 million customers across the United States. Furthermore, the transaction seeks to strengthen retirement planning, investment services, and long-term financial solutions.
The merger also combines the complementary strengths of both organizations. Therefore, customers can benefit from broader retirement products, expanded investment opportunities, and improved access through multiple distribution channels.
Combined Company Targets Growth in Retirement and Investment Services
Following completion, Marc Costantini, President and Chief Executive Officer of Corebridge, will become President and Chief Executive Officer of the combined organization. Meanwhile, Mark Pearson, President and Chief Executive Officer of Equitable, will assume the role of Executive Chair.
The combined company plans to strengthen its position within the financial services industry. In addition, the merger supports long-term growth by expanding operational scale and capital strength. Company leaders also expect the organization to improve retirement solutions for millions of Americans.
Executives believe the transaction creates a stronger platform for customers, advisors, and institutional partners. Likewise, the merger reflects both companies’ commitment to delivering greater financial security through expanded product offerings and integrated capabilities.
The transaction remains subject to regulatory approvals and other customary closing requirements. Nevertheless, both companies continue working toward completing the merger by the end of 2026.
“I want to thank the stockholders of both Corebridge and Equitable for their strong support of this transformational merger,” said Marc Costantini, President and Chief Executive Officer of Corebridge, who will serve as President and Chief Executive Officer of the combined company. “This vote signifies the broad stockholder support of bringing together two outstanding franchises which will serve more than 12 million customers. The merger will leverage both companies’ complementary strengths to create more choice and broader access to retirement and investment solutions for customers, while establishing an industry leader with an unmatched multichannel distribution platform.”
“Today’s vote is a clear endorsement of our vision to create a premier financial services franchise with the scale, complementary capabilities and capital strength to reshape retirement in the United States and help more Americans achieve financial security,” said Mark Pearson, President and Chief Executive Officer of Equitable, who will serve as Executive Chair of the combined company. “We appreciate the overwhelming support of our stockholders and their confidence in the value this combination can create as we continue to work toward completing the merger.”
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News Source: Businesswire.com
