Business
Equitable Holdings Announces Extension of Cash Tender Offer for Up to 46,000,000 Units of AllianceBernstein Holding
NEW YORK, March 25, 2025--Equitable Holdings Announces Extension of Cash Tender Offer for Up to 46,000,000 Units of AllianceBernstein Holding
About this update from Equitable Holdings, Inc.
[{"type":"image","alt":"","displaySize":"","headline":null,"caption":"","credit":null,"className":"","disableSlideshowImg":false,"size":{"original":{"width":480,"height":342,"url":"https://media.zenfs.com/en/business-wire.com/9a04f68d777312537c5f86682392be1c"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/cYTZYhouuqsdoNwkY_PD2Q--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTY4NDtjZj13ZWJw/https://media.zenfs.com/en/business-wire.com/9a04f68d777312537c5f86682392be1c","width":480,"height":342}},"lazy":false},{"type":"text","content":"NEW YORK, March 25, 2025--(BUSINESS WIRE)--Equitable Holdings, Inc. (NYSE: EQH), the leading financial services holding company of Equitable, AllianceBernstein and Equitable Advisors, today announced the extension of its previously announced cash tender offer to purchase up to 46,000,000 units ("Units") representing assignments of beneficial ownership of limited partnership interests in AllianceBernstein Holding L.P. (NYSE: AB) ("AB Holding"), at a price of $38.50 per Unit, net to the seller in cash, for an aggregate purchase price of up to approximately $1.8 billion, less any applicable tax withholding (the "Offer"). The expiration time of the Offer has been extended from 5:00 p.m., New York City time, on March 24, 2025 to 5:00 p.m., New York City time, on April 1, 2025 (as extended, the "Expiration Time"). As a result of such extension, Equitable will delay the acceptance of the Units that have been tendered until the expiration of the Offer. Equitable does not intend to further extend the Expiration Time or otherwise change any of the terms or conditions with respect to the Offer.","length":1140,"tagName":"p"},{"type":"text","content":"All other terms and conditions of the Offer remain unchanged and are described in the Offer to Purchase and related Letter of Transmittal, each dated February 24, 2025 and as amended, which were filed with the Securities and Exchange Commission (the "SEC").","length":267,"tagName":"p"},{"type":"text","content":"Based on a preliminary count by the depositary and paying agent for the Offer, a total of 19,028,061 Units were properly tendered and not properly withdrawn under the Offer prior to 5:00 p.m., New York City time, on March 24, 2025, including 1,394,553 Units that were tendered by notice of guaranteed delivery. The number of Units tendered may ...