July 5 (Reuters) - Canadian investment firm Brookfield (BN.TO) on Wednesday agreed to buy the remaining stake in American Equity Investment Life Holding (AEL.N) that it did not already own, valuing the long-sought-after annuities provider at $4.3 billion.
It represents a 35% premium to AEL's last closing price on the New York Stock Exchange before media reports of a possible takeover bid from Brookfield emerged.
The deal consists of $38.85 in cash and the rest in shares of Brookfield Asset Management's (BAM.TO).
AEL shares had touched a record-high of $53.68 when the bid was announced on June 27 and have been trading around the same levels.
If the deal is terminated, AEL has agreed to pay Brookfield Reinsurance a termination fee of $102 million.
Persons:
Jon Bayer, Manya Saini, Nivedita Bhattacharjee, Arun Koyyur
Organizations:
Equity Investment Life, AEL, Elliott Investment Management, Prosperity, Brookfield, New York Stock Exchange, Brookfield Asset, FIA, Athene, Massachusetts Mutual Life Insurance, Thomson
Locations:
Brookfield, Athene Holding, Bengaluru