Corebridge, Equitable stockholders approve merger
Corebridge Financial and Equitable Holdings stockholders overwhelmingly approved their merger, with 99.96% and 97.24% of votes cast in favor, respectively. The deal combines $380 billion and $1.1 trillion in assets under management and administration. Marc Costantini will serve as CEO of the combined company, while Mark Pearson becomes Executive Chair. The transaction is expected to close by year-end 2026, pending regulatory approvals.
*this image is generated using AI for illustrative purposes only.
Stockholders of Corebridge Financial, Inc. (NYSE: CRBG) and Equitable Holdings, Inc. (NYSE: EQH) have approved the merger between the two companies, clearing a major hurdle for a transaction that will combine more than $1.4 trillion in assets under management and administration. The vote signals strong market confidence in the creation of a larger retirement and insurance provider capable of reshaping the U.S. retirement landscape through complementary distribution channels and capital strength.
The approvals came during special meetings of stockholders held earlier today. Based on preliminary vote counts, approximately 99.96% of Corebridge stockholder votes cast supported the merger, representing approximately 82.14% of outstanding shares. Equitable saw approximately 97.24% of votes cast in favor, representing approximately 85.84% of outstanding shares. Final results are subject to certification by independent inspectors of election and will be filed with the U.S. Securities and Exchange Commission on Forms 8-K.
| Company | % Votes Cast For | % Outstanding Shares |
|---|---|---|
| Corebridge Financial | 99.96% | 82.14% |
| Equitable Holdings | 97.24% | 85.84% |
Marc Costantini, President and Chief Executive Officer of Corebridge, who will lead the combined company as President and CEO, thanked shareholders for their support. He stated the merger leverages complementary strengths to create broader access to retirement solutions and establish an industry leader with an unmatched multichannel distribution platform serving more than 12 million customers.
Mark Pearson, President and Chief Executive Officer of Equitable, who will serve as Executive Chair of the combined entity, described the vote as an endorsement of the vision to create a premier franchise with the scale to help Americans achieve financial security. He noted the overwhelming support reflects confidence in the value the combination can create.
What the Numbers Show
The near-unanimous support from both shareholder bases indicates minimal resistance to the strategic rationale behind the deal. With Corebridge holding $380 billion in assets under management and administration as of March 31, 2026, and Equitable holding $1.1 trillion as of the same date, the combined entity will command significant scale in the U.S. retirement market. This consolidation allows for potential synergies in distribution and operational efficiency, addressing the need for broader access to retirement solutions in a competitive landscape.
Next Steps
The transaction remains subject to regulatory approval and the satisfaction of other customary closing conditions. The companies expect to close the merger by year-end 2026. Investors are urged to review the joint proxy statement/prospectus filed with the SEC for detailed information regarding the proposed transaction and associated risks.
How might the combined $1.4 trillion asset base influence Corebridge's competitive positioning against other major U.S. retirement providers post-merger?
What specific operational synergies or cost-saving measures are expected to emerge from integrating Equitable's distribution channels with Corebridge's platform?
Could the pending regulatory approval process introduce delays beyond the projected year-end 2026 closing date, and what are the primary regulatory concerns?
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