Brookfield reinsurance unit to buy American National for $5 billion – WSJ

(Reuters) – Brookfield Asset Management Inc’s reinsurance unit has agreed to buy U.S. insurer American National Group Inc for about $5 billion, the Wall Street Journal reported on Monday, citing people familiar with the matter.

American National shareholders will receive $190 per share in cash, according to the report. That represents a premium of about 10% to the insurer’s closing price on Friday. on.wsj.com/3lH84at

Brookfield Asset Management and American National Group did not immediately respond to Reuters’ requests for comment.

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