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Equitable Holdings Announces Preliminary Results of Cash Tender Offer for Up to 46,000,000 Units of AllianceBernstein Holding
NEW YORK, April 02, 2025--Equitable Holdings Announces Preliminary Results 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/fa0977f57efc363025a0d8d8bd7314d5"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/lJJIOhWMNzkoxYUFeYaFtA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTY4NDtjZj13ZWJw/https://media.zenfs.com/en/business-wire.com/fa0977f57efc363025a0d8d8bd7314d5","width":480,"height":342}},"lazy":false},{"type":"text","content":"NEW YORK, April 02, 2025--(BUSINESS WIRE)--Equitable Holdings, Inc. (NYSE: EQH), the leading financial services holding company of Equitable, AllianceBernstein and Equitable Advisors, today announced the preliminary results 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"), which expired at 5:00 p.m., New York City time, on April 1, 2025 (the "Expiration Time").","length":765,"tagName":"p"},{"type":"text","content":"Based on a preliminary count by the depositary and paying agent for the Offer, a total of 19,766,878 Units were properly tendered and not properly withdrawn under the Offer prior to the Expiration Time, including 559,614 Units that were tendered by notice of guaranteed delivery.","length":279,"tagName":"p"},{"type":"text","content":"In accordance with the terms and conditions of the Offer, Equitable expects to accept for payment all of the Units that were properly tendered and not properly withdrawn, for an aggregate cost of approximately $761.0 million, excluding fees and expenses relating to the Offer. As Equitable expects to accept for purchase all of the Units that were properly tendered and not properly withdrawn there is no proration factor. The Units that Equitable expects to accept for purchase represent approximately 17.9% 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...