---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-077802"
form_type: "8-K"
ticker: "ANG-PD"
cik: "0001039828"
company_name: "American National Group Inc."
filed_at: "2023-07-05T23:59:59+00:00"
generated_at: "2026-06-13T12:26:58.263349+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# American Equity agrees to be acquired by Brookfield Reinsurance in $54-$56.50 per share cash-and-stock deal

## Summary
- Shareholders receive $38.85 cash plus BAM Class A shares valued at $16.15, floor $54, ceiling $56.50.
- Board unanimously approved; merger expected to close by April 4, 2024, subject to regulatory and shareholder approvals.
- Brookfield affiliates holding ~20% of AEL shares agree to vote in favor via Voting Agreement.
- Termination fee of $102M payable by AEL under certain conditions.
- CFO Axel André's change-in-control severance increased to 3x base salary and bonus.

## SEC filing metadata
- accession: 0001104659-23-077802
- form_type: 8-K
- ticker: ANG-PD
- cik: 0001039828
- company_name: American National Group Inc.
- filed_at: 2023-07-05T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 1.01, 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1039828/000110465923077802/0001104659-23-077802-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1039828/000110465923077802/tm2320561d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-077802
- JSON: https://secwatch.observer/filing/0001104659-23-077802.json
- Plain text: https://secwatch.observer/filing/0001104659-23-077802.txt

## Key facts
- Material Agreements
  American National Group Inc. entered into Agreement and Plan of Merger with Brookfield Reinsurance Ltd., Arches Merger Sub, Inc., and Brookfield Asset Management Ltd. (effective 2023-07-04).
  - Action: entry
  - Agreement: merger
  - Counterparty: Brookfield Reinsurance Ltd., Arches Merger Sub, Inc., and Brookfield Asset Management Ltd.
  - Effective: 2023-07-04
  source text: On July 4, 2023, American Equity Investment Life Holding Company, an Iowa corporation (the “ Company ”), entered into an Agreement and Plan of Merger (the “ Merger Agreement ”) with Brookfield Reinsurance Ltd., a Bermuda exempted company limited by shares (“ Parent ”), Arches Merger Sub, Inc., an Iowa corporation and a wholly owned subsidiary of Parent (“ Merger Sub ”), and solely for the purposes set forth in the Merger Agreement, Brookfield Asset Management Ltd., a company incorporated under the laws of the Province of British Columbia (“ BAM ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1039828/000110465923077802/0001104659-23-077802-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.