EQH and CRBG agree to all-stock merger; EQH holders get 1.55516 HoldCo shares, own 49%

Equitable Holdings, Inc.

Each EQH share converts to 1.55516 HoldCo shares; each CRBG share converts to 1 HoldCo share.
EQH stockholders will own ~49% and CRBG stockholders ~51% of combined HoldCo.
Mark Pearson (EQH CEO) to be Exec Chair; Marc Costantini (CRBG CEO) to be CEO; HQ in Houston.
Termination fee of $475M payable by either party under certain conditions; outside date Dec 26, 2026.
Conditions include HSR clearance, insurance regulator approvals, and consent from 75% of EQH advisory clients.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Equitable Holdings, Inc. entered into Merger Agreement with Corebridge Financial, Inc., Mountain Holding, Inc., Marcy Holding, Inc., Palisade Holding, Inc. (effective 2026-03-26).

Action: entry
Agreement: merger
Counterparty: Corebridge Financial, Inc., Mountain Holding, Inc., Marcy Holding, Inc., Palisade Holding, Inc.
Effective: 2026-03-26

Exact text from the filing

On March 26, 2026, Equitable Holdings, Inc., a Delaware corporation (“Equitable”), entered into an Agreement and Plan of Merger (the “Merger Agreement”), by and among Equitable, Corebridge Financial, Inc., a Delaware corporation (“Corebridge”), Mountain Holding, Inc., a newly formed Delaware corporation and wholly-owned subsidiary of Corebridge (“HoldCo”), Marcy Holding, Inc., a newly formed Delaware corporation and a wholly-owned subsidiary of HoldCo (“Equitable Merger Sub”), and Palisade Holding, Inc., a newly formed Delaware corporation and a wholly-owned subsidiary of HoldCo (“Corebridge Merger Sub”).

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Equitable Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0000950142-26-000871

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