Corebridge Financial Announces $200M Share Repurchase From AIG and Blackstone; The Purchase Price Paid By Corebridge Was $16.41/Share, Expected To Close On June 23, 2023
Portfolio Pulse from Happy Mohamed
Corebridge Financial announces a $200M share repurchase agreement with AIG and Blackstone, with 90.1% repurchased from AIG and 9.9% from Blackstone. The purchase price is $16.41/share, and the transaction is expected to close on June 23, 2023.
June 22, 2023 | 12:37 pm
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NEUTRAL IMPACT
AIG is selling 90.1% of the $200M Corebridge share repurchase, potentially freeing up capital for other investments.
AIG's sale of Corebridge shares may not have a direct short-term impact on its stock price, but it could free up capital for other investments or strategic moves, which may have a longer-term effect on the company's performance.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 75
NEUTRAL IMPACT
Blackstone is selling 9.9% of the $200M Corebridge share repurchase, which may have a minimal impact on its stock price.
Blackstone's sale of a relatively small portion of the Corebridge share repurchase is unlikely to have a significant short-term impact on its stock price, as it represents a minor transaction for the company.
CONFIDENCE 70
IMPORTANCE 25
RELEVANCE 25
POSITIVE IMPACT
Corebridge Financial's $200M share repurchase from AIG and Blackstone may signal confidence in the company's future prospects.
The share repurchase indicates that Corebridge believes its shares are undervalued and that the company has a positive outlook on its future performance. This could lead to increased investor confidence and a potential short-term increase in stock price.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100