Business
Equitable Holdings Announces Final Results of Cash Tender Offer for Units of AllianceBernstein Holding
NEW YORK, April 03, 2025--Equitable Holdings Announces Final Results of Cash Tender Offer for 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/089b088a25dabb6d024cfb90d76cf77c"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/NLvQnxeLGj26CEVzVXjTcQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTY4NDtjZj13ZWJw/https://media.zenfs.com/en/business-wire.com/089b088a25dabb6d024cfb90d76cf77c","width":480,"height":342}},"lazy":false},{"type":"text","content":"NEW YORK, April 03, 2025--(BUSINESS WIRE)--Equitable Holdings, Inc. (NYSE: EQH), the leading financial services holding company of Equitable, AllianceBernstein and Equitable Advisors, today announced the final results of its 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"), which expired at 5:00 p.m., New York City time, on April 1, 2025 (the "Expiration Time").","length":738,"tagName":"p"},{"type":"text","content":"Based on the final count by the depositary and paying agent for the Offer, a total of 19,682,946 Units were properly tendered and not properly withdrawn under the Offer prior to the Expiration Time.","length":198,"tagName":"p"},{"type":"text","content":"Pursuant to the terms of the Offer, Equitable has accepted for payment all 19,682,946 Units for an aggregate cost of approximately $757.8 million, excluding fees and expenses relating to the Offer. The depositary and paying agent will promptly pay for the Units accepted for payment.","length":283,"tagName":"p"},{"type":"text","content":"The Units that Equitable accepted for purchase represent approximately 17.8% of the outstanding Units as of December 31, 2024. After giving effect to such purchase, Equitable will have an approximate 68.6% economic interest in AllianceBernstein L.P., the operating partnership of AB Holding.","length":291,"tagName":"p"},{"type":"text","content":"Questions regarding the Offer and requests for assistance in connection with the Offer may be directed to D.F. King & Co., Inc...